David Miller, a former stock trader who brought down his employer in a bet on Apple stock, has pleaded guilty to wire fraud and conspiracy in a plea deal reached with prosecutors. The incident began when Miller improperly bought 1,000 times the number of shares requested by a customer, expecting Apple's stock price to rise and then selling off the excess stock and pocketing the profit before the fraud was noticed. He had been facing up to 25 years in prison for the fraud, but instead will likely see a five-to-eight year sentence.
