Former Amazon finance manager charged with making $1.4m from insider trading
A former Amazon finance manager has been charged with insider trading after allegedly tipping off her husband to the company’s financial performance in advance of earning announcements.
Laksha Bohra, her husband Viky Bohra and his father, Gotham Bohra, were charged by the Securities and Exchange Commission on Monday, accused of illicitly making $1.4m (£1.1m) between January 2016 and July 2018.
Ms Bohra, a senior manager in Amazon’s tax department, was responsible for preparing and reviewing figures that were published in Amazon’s quarterly and annual financial reports.
"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 complaint, filed in a federal court in Seattle, alleges that Viky Bohra and his father, Gotham Bohra, traded on this confidential information in 11 separate accounts run by different members of the Bohra family.
The complaint claims that Ms Bohra ignored quarterly reminders prohibiting her from passing confidential information on or recommending the purchase or sale of Amazon shares.
All three Bohras face penalties including the return of $1,428,094, total prejudgment interest of $118,406, and total penalties of $1,106,399.
Criminal charges were filed against Viky Bohra by the US Attorney's Office for the Western District of Washington.
Ms Bohra declined to comment. Peter Offenbecher, representing Viky Bohra, said: "Vik Bohra deeply regrets this conduct, fully accepts responsibility, and intends to promptly repay the funds.” Gotham Bohra's lawyer did not respond to request for comment.
