SEC Sues Christie Hefner's Husband for Insider Trading

Published April 08, 2016

Christie Hefner (Reuters)

The husband of former Playboy Enterprises chief executive Christie Hefner is being sued by the US Securities and Exchange Commission (SEC) for insider trading, according to a filing in federal court in Chicago Wednesday.

The SEC targeted William Marovitz, who it charged used non-public information to trade in the company's stock "despite instructions from his wife that he should not."

The SEC alleged that "Marovitz bought and sold shares of Playboy in his own brokerage accounts between 2004 and 2009 ahead of public news announcements related to Iconix's potential acquisition of Playboy, Playboy's negative earnings announcements and Playboy's offering of stock."

As a result, "Marovitz gained profits and avoided losses totaling $100,952.40," the SEC said.

Christie Hefner, 58, is the daughter of Playboy founder Hugh Hefner.

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https://www.foxnews.com/entertainment/sec-sues-christie-hefners-husband-for-insider-trading