SEC Announces Former Rochdale Securities Broker Sentenced to 30 Months' Imprisonment for Rogue Trades

The SEC has announced that Judge Robert N. Chatigny of the United States District Court of Connecticut sentenced David Miller to 30 months' imprisonment, followed by three years of supervised release, for his role in a fraudulent scheme to place a series of unauthorized purchases of more than 1.6 million shares of Apple, Inc. stock while employed as an institutional sales trader for Rochdale Securities, LLC.Judge Chatigny also ordered Miller to make full restitution to Rochdale, which suffered a loss of over $5 million and ceased all business operations as a result of Miller's actions.

See: SEC Litigation Release.