Disney Employee Arrested for Insider Trading; Claims Iger in Talks to Sell ABC

Bonnie Hoxie, an administrative assistant to Disney’s head of Corporate Communication, Zenia Mucha, was arrested earlier today along with her boyfriend Yonni Sebbag (a.k.a. Jonathan Cyrus) by the FBI on charges of conspiracy and wire fraud in an attempt to sell inside information on the company’s latest quarterly earnings report.

The duo allegedly sent emails via a gmail account to hedge funds and investment companies in New York. Posing as hedge fund investors, the FBI arranged to receive insider trading information from Sebbag in New York which included disclosing earnings per share hours prior to the public disclosure.

Hoxie and Sebbag also allegedly reported in emails that Robert Iger was in  ‘serious and advanced negotiations with two private equity firms’  to sell off the ABC Network, just days after the annual shareholder’s meeting in which Iger did not discount the possibility but declined to offer any further details.

UPDATE: The Walt Disney Company has issued a statement calling the allegations surrounding the sale of ABC to be untrue at all times.

[source] / [source]

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