New York (HedgeCo.net) – In what looks like an muddled attempt at insider trading, a Disney press office secretary was accused of trying to sell Disney’s quarterly figures three days before they were due to be announced, TimesOnline reported.
It is alleged that dozens of hedge funds received emails and phone calls from Bonnie Hoxie and her friend Yonni Sebbag, asking “for discretion,” in the proposed exchange.
The FBI in New York said that almost all of the hedge funds tipped them off. Both Hoxie and Sebbag were charged with conspiracy and wire fraud. The scam ended in an FBI sting, where Hoxie allegedly sold the report to an undercover agent, the Times reported.
Federal prosecutors said that the team asked for only $15,000 in exchange for the quarterlies. They face up to 20 years in jail if convicted.
Alex Akesson
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