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Was that really his game plan? 1) Buy $1B in Apple shares. 2) ... 3) Profit! If you have $1B to spare, it seems like there are a lot better ways t

• dagw 14y ago
  No his plan was 'borrow' $1B for a very short period of time, buy $1B in Apple shares, hope they go up a short while later, sell shares, pay back loan, pocket the difference. He never had the $1B.
  • pbhjpbhj 14y ago
    That's what traders do all the time. The only difference here is the borrowing wasn't authorised and he fraudulently claimed it was. Oh and then it seems he committed a further fraud to attempt to mitigate the loss by forcing the price up or something.