A now-fired broker at
Rochdale Securities tried to quickly cash in on a stock windfall generated by Apple's earning announcements, but ended up costing his employer millions and has been arrested and
charged with fraud. David Miller's scheme was roiled when AAPL fell instead of rose on the company's
record-breaking quarter, due to a slip in
expected iPad growth. It is charged that he improperly bought 1,000 times the number of shares requested by a customer, planning to dump the excess and pocket the profit when the price went up.
