Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Disney Leaker Should Get at Least 27 Months, U.S. Says

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 reporters on this story: David Glovin in New York federal court at glovin@bloomberg.net, Bob Van Voris in New York federal court at rvanvoris@bloomberg.net.

To contact the editor responsible for this story: David E. Rovella at drovella@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.