On Air Now

Current Show

Mark Levin Show   6:00 PM - 9:00 PM

Call Mark now at 1-877-381-3811

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 590 AM Kalamazoo, MI

Weather

Current Conditions(Kalamazoo,MI 49001)

More Weather »
73° Feels Like: 73°
Wind: WSW 10 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Isolated Thunderstorms 52°

Tomorrow

Isolated Thunderstorms 79°

Thurs Night

Isolated Thunderstorms 60°

Alerts

Former Rochdale Securities trader arrested in fraud scheme

NEW YORK (Reuters) - The FBI arrested a former trader at the Connecticut firm Rochdale Securities on Tuesday in a fraud scheme involving Apple stock, U.S. prosecutors said.

According to a criminal complaint filed in federal court on Monday, David Miller bought Apple shares for himself ahead of the tech giant's October 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.

(Reporting By Emily Flitter; Editing by Tim Dobbyn)

Comments