Spouse of former 'Playboy' CEO Charged with Insider Trading

Ron Galella/WireImage(NEW YORK) -- The spouse of former Playboy Inc. CEO Christie Hefner has been charged with illegal insider trading, the Securities and Exchange Commission announced Wednesday.

William Marovitz is alleged to have bought and sold Playboy stock based on confidential information he obtained from his wife ahead of it becoming public knowledge.

Officials say Marovitz, who is alleged to have participated in illegal trading between 2004 and 2009, gained profits and avoided losses of $100,952.

According to court documents, Hefner instructed her husband to not disclose information he acquired through private conversations. Among the more profitable trades Marovitz benefited from was the purchasing of Playboy stock ahead of the public announcement that Iconix was interested in becoming a potential merger. Playboy's stock increased by 42 percent once that announcement was made public.

Copyright 2011 ABC News Radio

Playboy Opens New Club in London

Denise Truscello/WireImage(CHICAGO) -- Playboy founder Hugh Hefner was in London Saturday night, as the Playboy Club London was officially opened.

The club, a gaming and entertainment venue, opened with a private function attended by Hefner, his fiancée Crystal Harris and his two sons Marston and Cooper.

Located in London’s Mayfair district, the club features two floors and is spread over 17,000 square feet, with its design incorporating influences from the original Playboy Club London that opened in 1966.

"I'm thrilled to be here for this very special occasion that celebrates the return of the Playboy Club and its iconic Bunnies to London," Hefner said upon arrival at the opening. "People still remember with great fondness the sophistication and romance that the original London Club offered when it opened in 1966. There is a retro-chic quality about Playboy Club London and its Bunnies that will give today's guests an experience they may have missed the first time around."

Patrons at the club can look forward to the hospitality of the world-renowned Playboy Bunnies who will serve as hostesses, croupiers and cocktail servers, according to a news release from Playboy.

Those in attendance at the opening event were treated to musical entertainment from DJ Vice and cocktails by renowned mixologist Salvatore Calabrese.

Copyright 2011 ABC News Radio