These two obviously believed the average hedgie would be unscrupulous enough to do anything for money.

Whoops – several of their targets went to the FBI instead.

The couple, a former Walt Disney employee and her boyfriend, have been arrested for allegedly trying to sell tips about Disney to over 30 hedge funds for $15,000 each.

Bonnie Hoxie and her friend, Yonni Sebbag – otherwise known as Jonathan Cyrus – were arrested by FBI agents in Los Angeles, law enforcement officials said.

Here’s one of their emails sent to about 20 hedge funds and an undercover FBI agent posing as a hedge fund manager (from the SEC complaint).

Hi, I have access to Disney’s (DIS) quarterly earnings report before its release on 05/03/10 [sic]. I am willing to share this information for a fee that we can determine later. I am sorry but I can’t disclose my identity for confidentiality reasons but we can correspond by email if you would like to discuss it. My email is eilatcap@gmail.com. I count on your discretion as you can count on mine. Thank you and I look forward to talking to you.

They face a maximum sentence of 25 years in prison and a fine of at least $250,000… all for a handbag and a pair of shoes:

Hoxie stated “here is the bag that you are going to get for me – thank [sic],” and attached a link to a picture of an expensive Stella McCartney designer handbag available for $700 at Neiman Marcus, an upscale department store. Sebbag replied that he would get Hoxie the bag “next week.” Anticipating that they would receive substantial compensation from the Putative Traders, Sebbag stated “I may be able to [buy] u 2 of them, lol.” Hoxie responded via email, “In that case, i also love love these shoes” and attached a link to a picture of expensive Stella McCartney shoes also sold at Neiman Marcus. (SEC)

A Mickey Mouse effort.