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  • Bugged Phone Tripped Up Apple Leaker


    An employee at an Apple parts supplier has been caught on tape selling inside information [pdf] about Apple to a hedge fund broker. The information, potentially worth millions to the broker, was sold by Walter Shimoon for a mere $22,000. Shimoon has since been fired by camera and charger component maker Flextronics International, and was arrested by US law enforcement this morning. Among other things, he was recorded leaking sales information, details about the iPhone's cameras and about a mysterious product known only as "K48."

    Shimoon, who played a role in contract negotiations with Apple, is alleged to have passed information via phone calls with clients of Primary Global Research, an expert-networking company based in California. One of the people he was talking to, however, was a government witness who was recording the phone calls. According to the recordings, Shimoon revealed third quarter 2009 sales figures for iPhones and fourth quarter 2009 sales figures for iPods during a phone call in October 2009. During this call, Shimoon also let drop the news that the 2010 iPhone would have two cameras. "We're working with them on the camera," Shimoon said, according to the complaint against him. "You know, they're very secretive."

    In the same phone call, Shimoon also revealed that Apple was working on a top secret product, which was known internally at the company as "K48." His information about the new product was sketchy, Shimoon explained, but he made some educated guesses that turned out to be pretty accurate: "It's totally ... It's a new category altogether... It doesn't have a camera, what I figured out. So I speculated that it's probably a reader... Something like that. Um, let me tell you, it's a very secretive program," he said. Shimoon also added that "at Apple you can get fired for saying K48... that's how crazy they are about it."

    Shimoon apparently thought he was safe because he wasn't writing anything down, only talking on the phone. In a conversation about the insider-trading prosecution of billionaire Raj Rajaratnam, he noted that "it's all done via voice, there's no real record of information," but observed that "it would really suck if you recorded all the calls."

    Smart guy.

    Source: Fortune
    This article was originally published in forum thread: Bugged Phone Tripped Up Apple Leaker started by Paul Daniel Ash View original post
    Comments 30 Comments
    1. thevmax's Avatar
      thevmax -
      Quote Originally Posted by SirTimothy1 View Post
      Now I want to know what K48 is...
      It's newer, better, stronger...than Viagra.
      It will be used with an iphone.
      You push the K48 ICON and a tiny needle comes out of
      the casing and punctures your finger for a split second. Then the K48 rushes into your bloodstream...
      You get the picture!
    1. CX3NT3_713's Avatar
      CX3NT3_713 -
      k48 is the new iMac
    1. lvazn93's Avatar
      lvazn93 -
      Wow easy money! Lol!
    1. stiverphoto's Avatar
      stiverphoto -
      People are asking why arrest him now cause it's old news. Well, the answer there is easy. They had to wait for the 2 camera iPhone to come out (iPhone 4) if they would have arrested him before their new product was out the world would have known the rumors of the new products were legit even further messing up the stock values. They have a few years after a crime to arrest and press charges so they waited. Industrial espionage is nasty business. He should have asked for more money for the secrets considering the penalties LOL
    1. Jahooba's Avatar
      Jahooba -
      Quote Originally Posted by stiverphoto View Post
      He should have asked for more money for the secrets considering the penalties LOL
      Next time I give out industry secrets I'm only meeting in-person, and I'll only communicate through written word on a notepad, and then I'll burn the pages immediately.

      Oh, and I'll ask for a heck of a lot more than $22K

      Just kidding, of course
    1. bignighttrain's Avatar
      bignighttrain -
      Quote Originally Posted by Zokunei View Post
      Sounds like a good movie
      like thig guy said would be a great movie.
    1. Darkflame's Avatar
      Darkflame -
      Next time you sell secrets learn to speak Klingon or Jaffa if your client is a SG fan. Steve jobs won't be able to understand you. Anything intelligent that was not forced down your throat via the apple regime is beneath him.
    1. shabz_de_don's Avatar
      shabz_de_don -
      Microsoft would sell this for $100 and give a free game with it :-)


      Sent from my iPhone using ModMyi
    1. EagleyeSmith's Avatar
      EagleyeSmith -
      It ain't a crime until you get caught. Oh wait.

      No but seriously, that's dumb. Why throw away your employment and damage your name for some money? A very small amount as well. Not worth it.
    1. EskimoRuler's Avatar
      EskimoRuler -
      Quote Originally Posted by orbyorb View Post
      K48AP, a.k.a., the model number for the iPad.

      This should be a lesson to anybody reading this forum at Apple HQ: You. ARE. ALWAYS. Being. Watched. Apple protects their secrecy very well.
      Know that for sure, that's why I think the iPhone 4 leak was set up by apple so how for publicity