Former AT&T exec admits selling Apple and RIM secrets to traders

A former AT&T executive on Monday admitted to selling Apple and RIM sales numbers to traders who then purchased shares based on the information, Reuters reported. “I provided insider information concerning AT&T’s sales of Apple’s iPhone and RIM’s Blackberry products, as well as other handset set devices sold through AT&T distribution channels,” Alnoor Ebrahim admitted to U.S. District Judge Paul Oetken in Manhattan. The former employee pleaded guilty to one count of conspiracy to commit wire and securities fraud. Ebrahim entered into a plea agreement with federal prosecutors, who are recommending a maximum sentence of two years in prison. “We took this matter very seriously and cooperated fully with the authorities,” said AT&T spokesman Marty Richtman. “The conduct alleged was clearly against our code of business conduct, and Mr. Ebrahim is no longer an AT&T employee.”