Monday, August 23, 2010

Business Espionage - Walt Disney Co.

The boyfriend of a former Walt Disney Co. administrative assistant admitted to engaging in a scheme to sell early access to the company's earnings report in U.S. district court in Manhattan Monday.

Yonni Sebbag, 30 years old, and his girlfriend Bonnie Hoxie, the former assistant to Disney's head of communications, allegedly contacted more than a dozen hedge funds and investment companies anonymously in March, offering to provide an early look at Disney's earnings.
"I disclosed material and nonpublic information about the Walt Disney Co. to outside investors," Mr. Sebbag said. (more)