Business & Economy

Disney employee, associate arrested in insider-trading scheme

A Walt Disney Co. employee and an associate were arrested in Los Angeles today for allegedly disseminating confidential financial information about the company as part of an insider-trading scheme, according to federal prosecutors in New York.

Disney employee Bonnie Hoxie and her friend, Yonni Sebbag, also known as Jonathan Cyrus, were named in a criminal complaint filed in U.S. District Court in New York, in which they were charged with conspiracy and wire fraud.

Hoxie and Sebbag were expected to make their initial federal court appearance after 2 p.m. today in downtown Los Angeles.