Arrested Inside Trader: Mentioning The iPad Pre-Release Could Cost You Your Job

Recently, four people were arrested by the Securities and Exchange Commission on charges of "leaking secrets about technology companies to hedge funds." Interestingly, one arrest surrounded information passed on about Apple's iPhone update, and "codename K48" - the iPad. Walter Shimoon, an executive for Flextronics (an Apple supplier), was the man behind the Apple leaks. In a call intercepted in 2009, Shimoon described the tensions in Cupertino during the lead-up to the iPad's release. He said:

At Apple you can get fired for saying K48 ... outside of a, you know, outside of a meeting that doesn't have K48 people in it. That's how crazy they are about it.

While Apple did suffer an iPhone 4 leak earlier this year, a great many Apple secrets have been kept successfully. Obviously, this is all thanks to Apple's hypersensitive attitude towards the art of secret-keeping. If you want to read more about the recent arrests, check out Reuters' article.