Insider Trading Hits Walt Disney Company
Investment News released a story saying that a Walt Disney Company administrative assistant has been sentenced to four months home detention following her admission that she was involved in a scheme to sell information about the company’s upcoming earnings. Bonnie Hoxie, the former assistant to Disney’s head of communications, gave her boyfriend Yonni Sebbag information about Disney’s upcoming earnings before it was announced to the public last year. She also made contact with various hedge funds and 30 investment companies trying to peddle the information anonymously. The FBI set up a sting posing as hedge fund traders seeking to make a deal for her information.
A U.S. District Judge ordered Ms. Hoxie to serve three years probation, with the first four months in home detention plus 100 hours of community service for each year of her probation.