NY judge jails man accused of selling Disney secrets in insider trading scheme without bail
By APTuesday, June 8, 2010
Man charged in Disney trade scheme jailed in NY
NEW YORK — A man charged with selling secrets about finances at Walt Disney Co. has been jailed in New York.
Yonni Sebbag and his girlfriend, Disney employee Bonnie Hoxie, were arrested in California last month in the insider trading case filed in New York.
A judge ordered the 29-year-old held without bail on Tuesday during a brief appearance in federal court in Manhattan. Hoxie was expected to appear in the same courthouse later this week.
Prosecutors allege Hoxie obtained information on Disney’s quarterly earnings before they were made public and fed them to Sebbag. He’s accused of trying to sell the tips to at least 33 investment companies.
If convicted, Hoxie and Sebbag would each face up to 25 years in prison.
