Ex-Flextronics Worker Cops To Selling Insider Tips

Law360, New York (July 5, 2011, 7:31 PM EDT) -- A former Flextronics International Ltd. employee pled guilty on Tuesday in New York to conspiracy and securities fraud charges for allegedly giving hedge funds inside information about technology companies while serving as an expert-network consultant.

Walter Shimoon, 39, entered his plea in Manhattan federal court, admitting to selling business secrets through consulting arrangements with expert networking firms Primary Global Research LLC and Broadband Research LLC.

“When I provided this information I knew it was material, nonpublic information I knew only because of my position at Flextronics,”...
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