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Ex-Rochdale Trader Arrested in Apple Stock Case

A former trader with Rochdale Securities LLC was charged with wire fraud in connection with an unauthorized $1 billion purchase of Apple Inc. stock that backfired, costing his company $5 million, the U.S. said.

David Miller, 40, appeared before U.S. Magistrate Judge Holly Fitzsimmons in Bridgeport, Connecticut, yesterday after surrendering to the Federal Bureau of Investigation, prosecutors said. He was released on $300,000 bail, they said.