Tuesday, 21 October 2014
Last updated 3 hours ago
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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...