APAC
Of Katanga Johnson
Michelle Price
WASHINGTON (Reuters) – The Securities and Exchange Commission on Monday charged a former finance manager at Amazon.com, Inc. and two members of his family with internal trading prior to the company’s earnings announcements between January 2016 and July 2018.
The SEC alleges that Lakshya Bohra, who works as a senior manager in Amazon’s tax department, gave top secret information about Amazon’s financial operations to her husband Vicky Bohra.
The complaint alleges that Vicky Bohra and her father Gotham Bohra then traded on the intelligence and made an illegal profit of about 1. 4 1.4 million.
The SEC’s lawsuit, filed in federal court in Seattle, alleges that all three Bohras violated anti-fraud provisions in federal securities law. They have agreed to pay a total depreciation of $ 1,428,094, a total bias interest of 11 118,406 and a total penalty of 1, 10,106,399.
In parallel proceedings, the U.S. for Washington’s western district of Washington. The Attorney’s Office has today filed criminal charges against Vicky Bohra.
“We claim that the Bohras used Amazon’s intelligence frequently and systematically to their own advantage,” said Erin Snyder, who serves as director of the SEC’s San Francisco Regional Office.
He added, “Employees with access to confidential, potentially market-moving corporate information will not be able to use that information to enrich themselves, their friends or their families.”
Not every deaf person responded immediately to Reuters’ request for comment.
Amazon declined to comment.
