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Former Flextronics exec pleads guilty to leaking iPhone, iPad secrets

Former executive at Apple supplier Flextronics Walter Shimoon pleaded guilty to two counts of conspiracy to commit wire fraud and one count of security fraud in a Manhattan court on Tuesday. The charges stem from a crackdown on “expert networks,” which make money by connecting hedge funds and financial institutions with industry insiders such as Shimoon. The practice, which had gone widely unmonitored for years, is now said to be under the Securities and Exchange Commission’s microscope. Shimoon was arrested late last year and accused of leaking insider iPhone and iPod sales figures in the third and fourth quarters of 2009. He also leaked details surrounding the iPhone 3GS, which was unreleased at the time, and the still unannounced iPad. Shimoon is scheduled to be sentenced in July 2013 according to The New York Times.

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Zach Epstein

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content.

Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment. His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.