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Guilty plea in Disney securities fraud scheme
Headline Legal News | 2010/09/01 10:40

The boyfriend of a Disney executive’s aide admits he tried to sell earnings data to investment companies before they were made public.

The boyfriend of an assistant to a top Walt Disney Co. executive pleaded guilty Monday to conspiracy to commit securities fraud  and wire fraud in federal court in New York in an insider trading scheme that garnered notoriety for its lack of sophistication.

Yonni Sebbag was arrested in May along with Bonnie Hoxie, a former aide to Zenia Mucha, the head of corporate communications for Disney. Both were charged with conspiracy to commit securities fraud and wire fraud by selling inside information to investment companies. Read the rest…



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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
 
 
 

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