Worst Inside Trader Ever Pleads Guilty in Disney Case

A man arrested earlier this summer for conspiring with his girlfriend to peddle earnings at Walt Disney Co. pleaded guilty at a Manhattan federal court this morning.

If you remember the case of Yonni Sebbag and former Disney employee Bonnie Hoxie, this will come as no surprise. The two sent emails offering their information to some three dozen hedge funds in what one former prosecutor called the “equivalent of the bank robber who drops off the demand note and comes back in an hour to pick up the money.” The hedge funds, in turn, contacted the authorities.

The story gained traction thanks to prosecutors’ revelation of emails in which Hoxie gleefully plots how she will spend the money on shoes. Sebbag faces up to three years in prison.

Worst Inside Trader Ever Pleads Guilty in Disney Case