Former employees at major tech companies like Apple, Dell, Advanced Micro Devices, Flextronics International and Taiwan Semiconductor Manufacturing, sold inside information about their companies to hedge funds through an expert-networking firm, according to a criminal complaint filed Thursday by federal prosecutors in Manhattan. One of the accused tech company employees allegedly sold secrets about Apple’s iPhone and iPad, reports “Forbes” (http://blogs.forbes.com/nathanvardi/2010/12/16/tech-employees-allegedly-sold-secrets-of-dell-apple-and-advanced-micro-devices/?partner=yahootix).
Walter Shimoon, 39, who worked for Apple-parts supplier Flextronics, is accused of selling highly confidential sales forecast information and new product features for the iPhone for US$22,000. Shimoon worked as a senior director of business development in San Diego for Flextronics, which supplied camera and charger components to Apple used in the iPhone and iPod.
According to the complaint, Shimoon in a telephone call with a cooperating witness disclosed third quarter 2009 sales figures for iPhone units and fourth quarter 2009 sales figures for iPod units. Shimoon also disclosed that Apple was producing a new iPhone that will have two cameras in 2010, reports “Forbes.”