Tech News

Former Amazon supervisor made $1.four million from insider buying and selling, SEC alleges

former-amazon-supervisor-made-1-four-million-from-insider-buying-and-selling-sec-alleges

Amazon corporate office building in Sunnyvale, California

Lisa Werner | Moment Mobile | Getty Images

The Securities and Exchange Commission charged a former Amazon finance manager and two family members with insider trading, alleging Monday that they made approximately $1.4 million from unlawful trading. 

The agency alleges that Laksha Bohra, who worked as a senior manager in Amazon’s tax department, had access to confidential information from Amazon ahead of the company’s quarterly and annual earnings reports. 

From January 2016 through July 2018, Bohra allegedly tipped her husband Viky Bohra off on the company’s financial performance. Bohra’s husband would then trade the stock with his father, Gotham Bohra, on the confidential information, the SEC said. The group allegedly traded on the confidential information in 11 separate accounts maintained by the family. 

The SEC filed its complain in federal court in Seattle, charging the family members with violating anti-fraud provisions of the federal securities laws. 

Amazon declined to comment on the charges. An attorney for Laksha Bohra did not immediately respond to a request for comment. 

Subscribe to CNBC on YouTube.

0 Comments
Share

Katherine Clark