Did nobody tell these guys about insider trading? Have they never watched Wall Street? Did they not get word of Martha’s plight? Apparently not. Nine executives at a Taiwan-based iPod manufacturer called Inventec Appliances Corp could face serious jail time after dumping loads of shares in their company following some bad news.
Apple informed the executives that it the company was cutting back its iPod orders from Inventec, which would lead to a 49 percent drop in output. Before releasing the news, the execs allegedly dumped $22.4 million worth of stock. Previously, the company’s iPod relationship had turned it into a high-flier on the Taiwan Stock Exchange. And now? Things aren’t looking so good.—Gregory Mone