A 33-year-old Disney secretary and her 29-year-old boyfriend were arrested and charged for this pitiful little attempt at insider trading:
Insider-trading networks are typically close-knit groups that go to great lengths to shield their activities. Hoxie and Sebbag, by contrast, allegedly sent anonymous letters offering early peeks at earnings reports to nearly three dozen hedge funds, which promptly tipped off the authorities.
“This is the insider trading equivalent of the bank robber who drops off the demand note and comes back in an hour to pick up the money,” said Robert A. Mintz, a former federal prosecutor who is a partner at McCarter & English in Newark, N.J. “It’s mind-boggling that somebody would even try to get away with something like this.”
The FBI set up a meeting May 14 in which agents posing as hedge fund traders gave Sebbag $15,000 as payment for a 107-page confidential document on Disney’s quarterly earnings.
The arrest shocked Hoxie’s father, who said her Disney job was the best one she’d had in a decade of living in Los Angeles.
“It can’t be for financial reasons that I could understand. It’s got to be, for lack of a better word, for love or a relationship with this guy,” said Patrick Hoxie, contacted in Jackson, Mich. “She lives in a dinky apartment, drives an old car. She has a real basic lifestyle.”
I always think it’s a red flag as to bad character when a person has a flattering, professionally taken photo of themselves. (I don’t mean art photos, I mean where you go into a studio to get a head shot.) The only exception is if you have to do it for business. But she’s a secretary, and there’s no indication this was required for Disney.
One time this guy I was seeing gave me only a card for Christmas — with a wallet-size, soft-focus glamorshot of him inside, wearing a red blazer and white T-shirt. We were in our mid-20s at the time. It was pretty clear that the picture hadn’t been taken for me, since I only got a wallet-size. He was a sports reporter, so it definitely wasn’t taken for business. No one cares what reporters look like and if they do, they’ll usually be disappointed.
I had given him a book and a bottle of Scotch. When we stopped seeing each other, he mailed me the book back. But not the Scotch. Asshole. He’s still single.