Suk-Joo Hwang, who worked for 14 years at the US division of Suwon, South Korea-based Samsung, told jurors earlier this week at a federal court in New York he spilled the beans about the leak after he was granted immunity from prosecution by US District Judge Jed Rakoff.
According to AP, Hwang was a witness in the insider-trader trial of Primary Global Research executive James Fleishman,
Hwang said that he gave Fleishman and a hedge fund manager he identified as “Greg” secret information about Samsung’s shipment of liquid crystal display screens it was supplying to Apple.
He said he told them about the shipment numbers of the Apple iPad at a time that no one even knew the name of the keyboardless netbook that Jobs was peddling. At the time he could only call them tablets.
Fleishman has been charged with two counts of conspiracy. Prosecutors claim he set up a scheme in which employees at public companies passed confidential information to fund manager clients of Primary Global.
He has pleaded not guilty to the charges and faces as long as 25 years in prison if convicted.
Allegedly, after he said the information, Hwang became a little paranoid that an Apple employee might have overheard his comment and reported him to the company blackshirts in security.
He told jurors he turned his company badge around to hide his name and Samsung logo.
Hwang earned about $38,000 for his work as an expert-networking consultant. But he got concerned when he found that Samsung had lost a supply contract with Apple.
Hwang said he was fired by Samsung in June 2011 but has not been charged with any crimes.
Under Rakoff’s order, Hwang’s testimony can’t be used against him and he can only be prosecuted if he commits perjury.