Employees at Disney were stunned today, Wednesday, May 26th, when a secretary of a top PR executive was arrested by the FBI on charges of conspiracy to commit securities fraud, reports the Los Angeles Times.
Arrested were Bonnie Jean Hoxie, 33, who was a secretary for Walt Disney Co. corporate communications spokeswoman Zenia Mucha, and Hoxie’s boyfriend, Yonni Sebbag, 29, the report said.
According to the report, Hoxie and Sebbag "sent anonymous letters to more than 20 hedge funds offering advance notice of the company’s earnings reports."
After being told of the letters, the FBI set-up a sting operation. As part of the sting, according to the report, "agents posing as hedge-fund traders gave Sebbag $15,000 as payment for a 107-page confidential document on Disney’s quarterly earnings. At the meeting, Sebbag allegedly told the undercover agents that he wanted "to make a lot of money" and asked for their guidance in setting up an offshore bank account to avoid detection."
Hoxie and Sebbag each face up to 25 years in prison, the report says.