Sentencing in Disney insider trading case


One of the two defendants arrested last May for allegedly trying to sell inside information from The Walt Disney Company has now been sentenced. Yonnie Sebbag’s own lawyer called the scheme “harebrained” in trying to win leniency for his client.

Sebbag did not, however, get off with the requested time served. Rather, he was sentenced to two years and three months in federal prison. Also, since his is a citizen of Morocco, Sebbag faces deportation when he is released from prison.

Due to be sentenced next month is Bonnie Hoxie, who has also pleaded guilty, but faces a shorter sentence of four to 10 months. Prior to her arrest last May Hoxie was the assistant to Zenia Muncha, Executive Vice President, Corporate Communications, at Disney. She was also Sebbag’s girlfriend and provided him with the Disney financial documents that Sebbag sold to FBI agents pretending to be hedge fund managers.