Jan. 25 (Bloomberg) -- Yonni Sebbag, a California man who pleaded guilty in a scheme to leak Walt Disney Co. earnings information, should be sentenced to 27 months to 33 months in prison, prosecutors said.
Sebbag and his girlfriend, Bonnie Hoxie, pleaded guilty to attempting to sell confidential information about the entertainment company’s quarterly earnings. Hoxie, a former executive assistant to Disney corporate communications chief Zenia Mucha, is scheduled to be sentenced Feb. 22. Sebbag, who seeks an 8-month prison term, will be sentenced on Jan. 28.
“Sebbag brazenly, and illegally, offered for sale highly confidential and sensitive internal information regarding Disney’s business and operations,” federal prosecutors in Manhattan said in a court filing made public today. “Sebbag exploited his access to confidential information to hatch an illegal insider trading scheme.”
Sebbag sent letters to at least 33 investment companies, including hedge funds, offering to sell confidential information about Burbank, California-based Disney, prosecutors said. None of the funds acted on the tips. Disney said it cooperated with prosecutors.
The case is U.S. v. Hoxie, 10-cr-753, U.S. District Court, Southern District of New York (Manhattan).
To contact the editor responsible for this story: David E. Rovella at email@example.com.