Former Samsung Manager Fesses Up to iPad Info Leak

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Suk-Joo Hwang, a former manager for Samsung, testified in court that he leaked details about Apple’s as yet unreleased iPad to Primary Global Research executive James Fleishman. Mr. Hwang’s testimony came as part of Mr. Fleishman’s trial for insider trading, according to Businessweek.

Mr. Hwang said he provided confidential information to Mr. Fleishman about Apple’s display orders for the iPad during a lunch meeting in Mountain View, California.

Insider Trading bites Fleishman in the how-do-you-doHwang says PGR paid him for confidential iPad information

“One particular thing I remember vividly was that I talked about the shipment numbers of Apple, it was about iPad,” Mr. Hwang said. “This is in December 2009, before it came out with the tablet PC, they didn’t know the name then, so I talked to them about the tablet shipment estimates in that meeting.”

The Securities and Exchange Commission filed its case against Mr. Fleishman earlier this year for his involvement in gathering confidential information for hedge fund investments. Flextronics senior business director Walter Shimoon, AMD supply-chain manager Mark Anthony Longoria, former Dell global supply manager Daniel DeVore, and Bob Nguyen from Primary Global Research were also targeted in the SEC investigation.

Mr. Hwang added that he received US$38,000 from PGR between 2004 and 2010 for his insider information. FBI agents questioned him in October 2010 about his involvement with PGR, and in June 2011 he was fired from his job at Samsung.

The court isn’t charging Mr. Hwang for his involvement in exchange for his testimony.

Apple and Samsung have not commented on the testimony.

Comments

craigf

I’m sorry, I just can’t get past the bozo’s name. Perhaps he felt he had nothing to lose cursed with a name like that.

Juvenile I know, and probably culturally insensitive, but there’s no denying he is an unscrupulous dick.

mhikl

Though I’ve given up on the possibility of public lynchings, I do still contend that public spankings could help to issue some second sober thought by the likes of Mr. Hwang.

I see it now. Hwang stepping up to the Public Spanker in front of the judge’s bench. He pulls down his pants and postures himself over the Public Spanker’s knee. With grand ceremony, the PS begins to bring a moderate size board down upon Mr Hwang’s behind for the number of strokes invoked by said judge.

Once finished, solemnly, the court adjourns.

* Though filming of trials are not allowed in my country, I should hope an exception be made in cases such as this.

ilikeimac

The court isn?t charging Mr. Hwang for his involvement in exchange for his testimony.

So the main case is against James Fleishman, and four others (Shimoon, Longoria, DeVore, Nguyen) are also “targeted” in the investigation, but Hwang gets to testify in exchange for his testimony.

When it comes to crimes involving several parties it seems necessary to choose your targets and make some deals to make sure the worst offenders get put away, but I’m curious who the SEC considers “bad” and “worse” in this mess, and whether Fleishman is on trial because he is the “big fish” or because he refused to testify against others.

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