The manager of Flextronics won $ 150,000 bail in the case of insider trading

The former manager of Flextronics International Ltd. accused of leaking information about Apple Inc. 's iPhone and iPad 4 Press won $ 150,000 bail in the case of insider trading.

Shimoon Walter was granted bail yesterday by U.S. District Judge Bernard G. Skomal in San Diego under the conditions that included ensuring his bail to $ 120,000 of equity in your home. Shimoon, a naturalized U.S. citizen according to his lawyer, Canada, has owned the house since 2003 with his wife, Linda Awdishu, professor at the University of California at San Diego.

Shimoon agreed to appear Jan. 4 in federal court in New York, where the criminal complaint was filed. Not logged in a statement to the charges against him.

"I'll take your word, Mr. Shimoon" said Skomal. "You'll be on the hook for $ 150,000 after the first of the year no-show in New York."

Shimoon, 39, and two other employees were held technology company the same day. U.S. prosecutors men accused of providing inside information about their companies to customers of Primary Global Research LLC, a consulting firm that provides expert investors. James Fleishman, an account representative at Mountain View-based global primary in California, was also arrested.

Damage Trade

U.S. Assistant Attorney Marietta Geckos, said during the hearing yesterday that the government does not oppose bail. She asked which was set at $ 1 million, with $ 300,000 secured by real estate. She described the alleged crimes of insider trading "which divides the country and around the world."

Flextronics officials said the alleged conduct has "jeopardized its relationship with Apple, a relationship that can be valued in the tens of millions of dollars," said geckos.

According to the criminal complaint unsealed on December 17, U.S. researchers consensual recordings made wiretapping a telephone company not identified, the creation of expert networks, land lines of an unidentified hedge fund and mobile phones of two of the defendants, Shimoon and a former employee of Advanced Micro Devices Inc., Marco Antonio Longoria.

Shimoon, and Karunatilaka Manosha Longoria, who worked at chip maker Taiwan Semiconductor Manufacturing Co., were charged with wire fraud and conspiracy to commit securities fraud and conspiracy to commit wire fraud, according to prosecutors in the investigation led by U.S. . UU. Preet Bharara Attorney in Manhattan.

Corrupt networks "

"A network insider corrupt in some of the companies in the world technology leaders served as consultants to call their employers were sold for the theft and smuggling of valuable inside information," Bhar said in a statement after the arrests.

If convicted of wire fraud charge, the defendants face up to 20 years in prison, said Edelio Rivera, spokesman for the office Bharara.

Skomal said Shimoon set bail in line with other defendants in the case. Shimoon has no criminal record and has "incredible support from the community and the family with two children and a pregnant wife," said the judge. A neighbor of the couple sent a $ 15,000 cashier's check to his bail.

Shimoon could be released today, if all documentation is complete, Skomal said.

"Suggestions" of the data

Jeremy Warren, Shimoon lawyer told the judge that prosecutors damage estimates were exaggerated, as Shimoon played any role in the scheme. The information was provided Shimoon "data-only technology stuff" that would have minimal value to any person who provides investment advice, Warren said.

Shimoon agreed to surrender his U.S. passport and Canada and stay in San Diego County, except for travel to court appearances in New York.

Fleishman appeared in federal court in San Jose, California, December 16 and was released on $ 700,000 bail. Longoria was awarded a $ 50,000 bond and was released by a federal judge in Austin, Texas. Karunatilaka got bail from $ 300,000 in federal court in Boston, said his attorney, Brad Bailey.

On December 16 arrests were the latest development of a nationwide investigation of illegal trade in hedge funds by Bharara, Federal Bureau of Investigation and the Securities and Exchange Commission.

iPhone, iPod

Flextronics is a provider of cameras and battery chargers for the iPhone and iPod from Apple, according to the complaint. Prosecutors allege Shimoon provided inside information on sales figures and Apple's product roadmap, including details about the iPhone IPAD and 4 before the devices were released.

Steve Dowling, a spokesman for Apple, which previously declined comment.

Flextronics said it fired Shimoon.

"Flextronics is a practice to fully cooperate with regulatory investigations and has clear policies that prohibit the disclosure of confidential information about the company and its business partners," said Renee Brotherton, a company spokesman based in Singapore, 17 December in a statement.