Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Truck Series (TRUCK)
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessSEC Charges Amazon Finance Manager and Family With Insider Trading

SEC Charges Amazon Finance Manager and Family With Insider Trading

Add to Favorite
Added to Favorite

The Securities and Exchange Commission today charged a former finance manager at Amazon.com Inc. and two family members with insider trading in advance of Amazon earnings announcements between January 2016 and July 2018.

According to the SEC’s complaint, Laksha Bohra worked as a senior manager in Amazon’s tax department, where she prepared and reviewed calculations used to finalize numbers included in Amazon’s quarterly and annual earnings that were filed with the SEC. Beginning in January 2016 and continuing through July 2018, Laksha Bohra allegedly acquired, and tipped her husband Viky Bohra with, highly confidential information about Amazon’s financial performance. The complaint alleges that Viky Bohra and his father, Gotham Bohra, traded on this confidential information in 11 separate accounts maintained by different members of the Bohra family. The complaint further alleges that Laksha Bohra disregarded quarterly reminders prohibiting her from passing material nonpublic information or recommending the purchase or sale of Amazon securities. As alleged, the family reaped illicit profits of approximately $1.4 million from their unlawful trading in Amazon securities.

“We allege that the Bohras repeatedly and systematically used Amazon’s confidential information for their own gain,” said Erin Schneider, Director of the SEC’s San Francisco Regional Office. “Employees with access to confidential, potentially market-moving corporate information may not use that information to enrich themselves, their friends, or their families.”

The SEC’s complaint, filed in federal court in Seattle, charges all three Bohras with violating antifraud provisions of the federal securities laws. All three Bohras have consented to the entry of final judgments permanently enjoining them from further violations of the charged provisions, and ordering them to pay total disgorgement of $1,428,094, total prejudgment interest of $118,406, and total penalties of $1,106,399.

In a parallel action, the U.S. Attorney’s Office for the Western District of Washington today filed criminal charges against Viky Bohra.

The SEC’s investigation was conducted by Sallie Kim, with assistance from Marc Katz and Andrew Hefty, under the supervision of Monique C. Winkler of the San Francisco Regional Office. Darren Boerner of the Market Abuse Unit also assisted the investigation. The SEC appreciates the assistance of the U.S. Attorney’s Office for the Western District of Washington and the Federal Bureau of Investigation.

Source: SEC.gov

Subscribe to get Latest News Updates

Latest News

You may like more
more

Market Analysis: Unraveling the Downturns in Today’s Market

In today's market analysis, we explore the reasons behind...

Morgan Stanley Upgrades Sarepta Therapeutics, Inc. to Overweight

Morgan Stanley has upgraded Sarepta Therapeutics to Overweight, signaling...

FedEx Corporation Quarterly Earnings Preview

Earnings per Share (EPS) Estimate: Set at $5.34, indicating...

Nike Inc. Receives New Price Target from Oppenheimer

Brian Nagel from Oppenheimer upgrades Nike Inc.to Outperform with...