Trader Allegedly Attempted To Flip $1 Billion In Apple Stock With Firm?s Money, Plan Backfired

A stock trader named David Miller with Rochdale Securities called David Miller was arrested today on the grounds that he'd illegally purchased $1 billion in Apple stock, or 1.625 million shares on the day Apple released its quarter earnings in October. The idea was to do a quick sell-off when the stocks rose on Apple's reported results, cash out and leave the firm's cash reserves none the worse for wear. But that's not what happened.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/-BeXaafsyMs/

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