Disney Employee Faces Sentencing Tuesday for Insider Trading and Wall Street Watches

Bonnie Hoxie, An Executive Assistant and Secretary to Disney’s Head of Corporate Communications, will be sentenced next Tuesday to what some could be a long prison stretch. Hoxie pleaded guilty in September to wire fraud and conspiracy to commit sire fraud. Her sentencing is being watched carefully by Wall Street players,  especially those involved with the expanding government investigation into insider trading in hedge funds, as the penalty given Hoxie could reflect similar prison sentences for others who have been charged or who have admitted guilt. The sentencing will be in the Manhattan federal court. Prosecutors say Hoxie gave non public information including the company quarterly earnings to her boyfirned Yonni Sebbag and he sought to sell it by sending letters to 33 hedge funds and other investment companies. Sebbag was previosuly sentences to over two years in prison for his involvement.