A Los Angeles man accused of leaking Walt Disney Co.’s earnings information obtained by his employee girlfriend on Monday pleaded guilty to conspiracy and wire fraud in a Manhattan federal court.
Yonni Sebbag and Bonnie Hoxie were arrested May 26. Hoxie is the former assistant to Zenia Mucha, the Burbank entertainment giant’s corporate communications chief. Sebbag and Hoxie were accused of offering confidential information about the entertainment company’s earnings as stock tips to investment companies.
“From March 2010 to May 26, 2010, I agreed with others to commit securities fraud and wire fraud,” Sebbag told the U.S. Magistrate Judge in the U.S. District Court, Southern District of New York, according to Bloomberg News. “I disclosed material, non-public information about the Walt Disney Co. to outside investors ... I transmitted via electronic mail that material, non-public information.”
Sebbag, who is a Moroccan citizen, was arrested in an FBI sting operation. He faces deportation and a prison term of as long as 33 months. Criminal charges are pending against Hoxie, who remains free on bail, according to the Associated Press.
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