Former Disney Employee Arrested in Alleged Insider-Trading Plot

An administrative assistant to Walt Disney Co.'s head of communications and her boyfriend have been arrested and charged with trying to sell advance access to the company's earnings reports.

Bonnie Hoxie, 33, and her boyfriend, Yonni Sebbag, 29, were charged Wednesday with conspiracy and wire fraud. They face up to 20 years in prison if convicted on the wire fraud charge.

Mr. Sebbag and Ms. Hoxie were arrested by FBI agents in Los Angeles and were expected to appear in federal court there later Wednesday.

Among the accusations is that the pair shared information that Disney was in serious talks to sell its ABC broadcast network. In a statement, Disney said it has been "fully cooperating" with the investigation and said the reference to conversations about selling ABC "were and are false."

A lawyer for Ms. Hoxie didn't immediately return a phone call seeking comment. Mr. Sebbag is expected to be represented by a court-appointed lawyer at Wednesday's hearing.

Click here for more on this story from the Wall Street Journal.