NEW YORK Dec 4 The FBI arrested a former trader
at the Connecticut firm Rochdale Securities on Tuesday in a
fraud scheme involving Apple stock, U.S. prosecutors
According to a criminal complaint filed in federal court on
Monday, David Miller bought Apple shares for himself ahead of
the tech giant's Oct. 25 earnings announcement, then told his
employer Rochdale the trade was for a customer who would bear
the risk if it lost money. As a result, Rochdale was left
unexpectedly owning over a million shares of Apple and had to
sell them for a $5 million loss.
The case is USA v. David Miller, U.S. District Court,
District of Connecticut.