Accused Disney Leaker Sebbag to Plead to Conspiracy Charges, Lawyer Says
Yonni Sebbag, accused of attempting to leak Walt Disney Co. earnings information, will plead guilty to criminal charges, his lawyer said.
Sebbag’s lawyer, Steven Kartagener, said that his client will plead guilty to conspiracy to commit securities fraud and conspiracy to commit wire fraud before a federal magistrate today in Manhattan.
“Mr. Sebbag has accepted responsibility for his misconduct and I’m pleased the case has been resolved as it has been,” Kartagener said in a telephone interview.
Sebbag and his girlfriend, Bonnie Hoxie, were arrested in California on May 26 for allegedly attempting to sell information about the entertainment company’s earnings. Sebbag has been jailed since his arrest.
Prosecutors say Sebbag sent letters in March to at least 33 investment companies, including hedge funds, offering to sell confidential information about Burbank, California-based Disney.
The case is U.S. v. Hoxie, 10-mag-01113, U.S. District Court, Southern District of New York (Manhattan).
To contact the reporter on this story: Patricia Hurtado in New York at pathurtado@bloomberg.net
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