Ex-Disney Secretary Remains Free In Insider-Trading Case

Jun 10 2010 | 9:46am ET

Unlike her boyfriend and alleged co-conspirator, the former Walt Disney Co. secretary accused of trying to sell insider information to hedge funds won’t see the inside of a jail cell.

A federal judge allowed Bonnie Hoxie to remain free on $50,000 bail yesterday. Hoxie first posted the bond last month, after she and boyfriend Yonni Sebbag were arrested in Los Angeles.

By contrast, another judge in New York on Tuesday ordered Sebbag held without bail. Sebbag’s lawyer did not contest the prosecution’s request that his client be remanded.

Hoxie did not speak at the hearing yesterday. He lawyer noted, “the allegations are just allegations.”

Those allegations are that Sebbag and Hoxie tried to sell advanced information about Disney’s earnings to about 20 hedge funds, as well as other investment firms.

According to prosecutors and the Securities and Exchange Commission, Sebbag sent letters offering up the information to the firms. Unfortunately for him and his girlfriend, the hedge funds quickly turned those letters over to the authorities, and the only interest they received was from a pair of undercover Federal Bureau of Investigation agents posing as hedge fund traders.

Both face up to 20 years in prison if convicted of the conspiracy and wire fraud charges.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...