No his plan was 'borrow' $1B for a very short period of time, buy $1B in Apple shares, hope they go up a short while later, sell shares, pay back loan, pocket the difference. He never had the $1B.
That's what traders do all the time. The only difference here is the borrowing wasn't authorised and he fraudulently claimed it was. Oh and then it seems he committed a further fraud to attempt to mitigate the loss by forcing the price up or something.
