Trader Gets 2 1/2 Years For $1B Apple Stock Fraud Scheme

Law360, Los Angeles (November 19, 2013, 10:04 PM EST) -- Former Rochdale Securities LLC trader David Miller was sentenced Wednesday to 2 1/2 years in prison for his role in a trading scam involving approximately $1 billion of Apple Inc. stock, according to federal prosecutors.

Miller, 41, was sentenced by U.S. District Judge Robert N. Chatigny to 30 months in prison followed by three years of supervised release, according to the U.S. attorney's office in Connecticut.

On April 15, Miller pled guilty to one count of conspiracy to commit wire fraud and securities fraud and to one count of...
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