Disney (NYSE: DIS) Turns into Tragic Kingdom Amidst Insider Trading Charges
The Chesire cat is out of the bag: personal assistants see and have access to confidential corporate information. Today the Magic Kingdom of Disney (NYSE: DIS) turned tragic as a personal assistant to an executive was charged with conspiracy and wire fraud.
The assistant Bonnie Hoxie and her boyfriend Yonni Sebbag (AKA Jonathan Cyrus — as not to be confused with the musical superstar Yoni) schemed to sell insider information to hedge funds around New York City. Fortunately, they are idiots and got caught. Unfortunately, insider information is seen all day everyday by executives and their personal staff who have the ability to benefit from the information in more surreptitious ways.
We’ll see how deep the rabbit hole goes as the FBI investigation continues …