30 Years in Jail for Tech Exec that Leaked iPhone Secrets
We’ve heard about the Chinese employees with Foxconn that leaked the design of the iPad to case makers, but now the story moves to the other end of the world. Walter Shimoon, from Ottawa faces up to 30 years in jail for leaking inside information on the iPhone.
The man was part of Flextronics International, a company that had him as executive. Using his power he supplied confidential information to two specialist firms in the investment industry. To put it short, what the man learned from Apple he leaked to Wall Street, in exchange of $45,500, received between 2008 and 2010.
Flextronic supplies components to Apple, RIM and other companies and has access to private figures such as sale projections. Shimoon actually leaked the sales forecast figures for iPhones and iPods to Wall Street folks, who speculated on this matter. The investigation is much bigger than that, focusing on inside trading and affecting over 40 hedge fund managers, analysts and consultants.
Apple’s security is as tight as it gets these days and if you even imagine a leak of a product or info, you’re bound to go to jail… thus, don’t expect an iPhone 5 leak anytime soon.