Apple’s secrets focus of Wall Street insider trading scandal

The latest probe targeted Primary Global Research, a Mountain View, Calif.-based firm that offered consulting services to investors on industry trends, issues and regulations. Instead, prosecutors allege, firm executive James Fleishman used four consultants employed by publicly traded companies to create a corrupt clearinghouse for confidential information.

Fleishman, 41, was charged with wire fraud and conspiracy. Three others, all outside "expert consultants" for Primary Global Research until earlier this year, were charged with wire fraud and conspiracy to commit securities fraud and wire fraud, according to papers filed in federal court in Manhattan.

The federal complaint alleges that the hedge fund's clients were told about highly confidential Apple sales forecasts information, new product features for the iPhone and a top-secret project known internally at Apple as "K48," which became the iPad, launched this year.