Quad Capital Trader Was Customer in Apple Trade, FT Says

A trader at a New York hedge fund was the customer in an unauthorized $1 billion purchase of Apple Inc. stock that led to the failure of a Connecticut brokerage, the Financial Times reported.

Quad Capital trader Harlan Sender was suspended from the firm after a probe of his Oct. 25 order was begun, the newspaper said. The transaction led to the guilty plea of former Rochdale Securities LLC trader David Miller.