|Published:||Aug 23, 2010 4:42 PM EDT|
|Updated:||Aug 23, 2010 1:42 PM EDT|
NEW YORK (AP) - A man charged with selling secrets about finances at Walt Disney Co. has pleaded guilty in federal court in New York to conspiracy to commit securities fraud and wire fraud charges.
Yonni Sebbag, a citizen of Morocco, and his girlfriend, former Disney employee Bonnie Hoxie, were arrested in California last month in the insider trading case filed in New York.
The 30-year-old Sebbag has been held without bail in Manhattan.
Prosecutors say Hoxie obtained information on Disney's quarterly earnings before they were made public and fed them to Sebbag. He's accused of trying to sell the tips to at least 33 investment companies.
The charges carry a potential penalty of up to 25 years in prison.
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