Monday, February 20, 2012

Analyst who leaked Apple sales projections arrested, charged for insider trading [AppleInsider]

Radical transparency

John Kinnucan was charged with two counts of securities fraud and two counts of conspiracy on Friday in a U.S. District Court in Portland, Oregon, Reuters reports. A civil case filed by the Securities Exchange Commission filed in the U.S. District Court of Manhattan carries the insider trading charge.
Kinnucan, who was arrested on Thursday, is accused of leaking tips that he received from Apple suppliers such as SanDisk and Flextronics to hedge funds managers. According to the report, a source close to the government probe claims that the analyst had received tips from former SanDisk executive Don Barnetson, who pleaded guilty to conspiring to divulge company secrets on Friday.

Analyst who leaked Apple sales projections arrested, charged for insider trading

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