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

Q&A: Executive Recruiter Talks Hedge Fund Closures, Hiring Trends

Dec 19 2014 | 6:58am ET

This year, hedge funds have been closing at a rate not seen since the financial...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Alternative Investment Funds Face A Communications Imperative

Dec 19 2014 | 6:10am ET

A handful of the top alternative investment firms on both sides of the Atlantic...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.