Friday, February 18, 2011

Disney (DIS) Info Leaker Recommended Up to 10 Months in Slammer

Former Disney (NYSE:DIS) employee Bonnie Hoxie, who attempted to sell confidential earnings information from the company, has been recommended to receive a jail sentence of up to 10 months in jail by U.S. prosecutors.

Hoxie, who pleaded guilty guilty to to one count of conspiracy to commit securities fraud and wire fraud, and one count of wire fraud, admitted to giving the earnings info to her boyfriend Yonni Sebbag, who then attempted to sell it to over 30 investment companies.

FBI agents posing as hedge fund traders were given the Disney document in exchange for $15,000 by the couple, who also gave the agents per-share earnings info on a later date.

Sebbag was sentenced last month to a 27-month prison term. Hoxie is scheduled to be sentenced on February 22.

Hoxie originally got the information working as Disney corporate communications chief Zenia Mucha's secretary.

Disney closed Thursday at $43.70.

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