State University of New York Institute of Technology
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Man pleads guilty to securities fraud in Disney's Marvel acquisition

A San Francisco man, Toby G. Scammell, pleads guilty to a securtity fraud involving Disney's aquisition of Marvel Entertainment. His girlfriend was interning at Disney and heard about the deal, she told Toby G. Scammell so he bought stocks into Marvel. then once Disney announced the deal there was a drastic increase in the value of the stocks. the stocks incresed by 25% and Toby made about $192,000 in profit. Toby faces a maximum of 25 years in prison. First off this is definately an example of someone taking advantage of the system. But I don't think the crime should have been solely blamed on Toby, his girfriend is the one who spilled trade secrets, he just took advantage of an situation. Why didn't she be held accountable for her actions since she was the one who told him the confidential information?


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