Thursday, 28 August 2014
Last updated 1 hour ago
Feb 23 2011 | 6:35am ET
Former Walt Disney Co. secretary Bonnie Hoxie won't spend a day in jail for her role in an insider-trading scam that sought to sell the company's secrets to hedge funds.
Hoxie received just three years' probation and four months' house arrest on the conspiracy and wire fraud charges, to which she pleaded guilty in September. But even the latter isn't quite as tough as it sounds: Hoxie, a former assistant to Disney's head of corporate communications, will be allowed to keep her jobs waitressing at two Los Angeles restaurants.
Hoxie also must complete 100 hours of community service.
The sentence is much lighter than that imposed on her former boyfriend, Yonni Sebbag, who received 27 months in prison at his sentencing last month. U.S. District Judge Alvin Hellerstein explained that Hoxie was "a vulnerable person and she was manipulated by someone who thought to gain something quick."
But manipulation can run both ways: Sebbag allegedly cooked up the scheme, which involved sending letters offering the confidential information to some 20 hedge funds, as well as other investment firms, after Hoxie told him she wanted expensive shoes and purses.
Hoxie herself explained that she was "blindsided by love."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...