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Apple insider trading being investigated 



Federal prosecutors in Manhattan arrested four people on charges that "expert consultants" revealed secrets about Apple inc.'s products to hedge funds seeking an edge on quarterly reports. The latest target of the probe was firm executive James Fleishmen of mountain view based Primary Global Research, a California based company that offers consulting services to investors on industry trends.
Fleishman has been accused of using four consultants employed by publicly traded companies to create a clearing house for confidential information and is currently being charged with wire fraud and conspiracy. Investigators state that Richard Choo-Beng Lee's hedge fund's practice was to "have its employees call a firm consultant before the consultants employer was expected to release its quarterly earnings, in part to obtain inside information". Authorities are currently investigating several other possible suspects in the case and the investigation is currently ongoing.
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