Apple share fraud scandal

[magnifier661]

Oops!!!! Lol. What a dumb ass!

http://wallstcheatsheet.com/stocks/apple-share-fraud-heres-the-trader-who-sparked-a-scandal.html/

The probe looking into a bizarre $1 billion Apple (NASDAQ:AAPL) stock scandal that ran a Connecticut trading firm into the ground has turned up the customer involved in the deal, the Financial Times is reporting. Harlan Sender, a trader at New York-based hedge fund Quad Capital, has been suspended in light of his role that he played in the scheme.

David Miller, of the now-former Rochedale Securities, pleaded guilty last month to conspiracy and wire fraud, after passing an unauthorized sale of $1 billion worth of Apple shares. According to court papers, Miller placed an order for 1.6 million shares of the company, when the customer — who was unnamed in the court filings — had placed an order for a mere 1,625. If Apple’s stock went up in price, the two would share the benefits, but if it went down (which it did, dramatically) Miller would chalk it up to human error. Unfortunately, the “error” left Rochedale footing the bill for the order, and subsequently put the firm out of business.

I just don't see how someone could do such a thing?! It's like "this dude is supposedly smart, why would he think he could get away with this?"

 

[Eastoff]

Have you ever seen superman 2?

 

[magnifier661]

Have you ever seen superman 2?

Like the old one with Christopher reeves? Yes:

 

[Eastoff]

Like the old one with Christopher reeves? Yes:

Well I guess the joke is superman 3, not 2. I ruined that!
[video=youtube;iLw9OBV7HYA]

 

[magnifier661]

Well I guess the joke is superman 3, not 2. I ruined that!
[video=youtube;iLw9OBV7HYA]

That one was such a waste of a movie! Oh yeah let's not put in a super villain against superman. Let him figure out the stock market and save the day!