Two arrested for trading Disney information

A former Walt Disney Co. employee and an alleged accomplice were arrested today by the FBI on charges of trying to sell quarterly report information on the entertainment giant.

FBI officials said the former Disney employee, Bonnie Hoxie, and alleged accomplice Yonni Seebag were taken into custody by agents in Los Angeles and were scheduled to appear in U.S. District Court this afternoon. Dow Jones Newswires said the two face charges of conspiracy and wire fraud.

Hoxie, an executive secretary to the company's communications chief, and Seebag allegedly sent anonymous letters to funds, trying to sell second-quarter earnings information to hedge funds and investment companies ahead of its scheduled release, Dow Jones said.

The two were caught after an FBI sting in which agent posed as hedge-fund traders, Dow Jones said.

Officials at Disney could not be immediately reached for comment.

(Via Market Watch)

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