Former Amazon employee charged with insider trading
The U.S. Securities and Exchange Commission has charged a Amazon finance manager and two of her family members with insider trading, the agency said Monday.
The SEC said in a statement that Laksha Bohra, a senior manager in Amazon’s tax department, and her family “reaped illicit profits of approximately $1.4 million from their unlawful trading in Amazon securities.”
Amazon declined to comment on the case Monday afternoon. Asked if Laksha Bohra is still with the company, an Amazon spokeswoman referred to the language in the SEC’s press release noting that Laksha Bohra is a “former finance manager.” The spokeswoman also declined to say explicitly whether Laksha Bohra worked in Amazon’s Seattle offices.
In her job, the SEC said, Laksha Bohra prepared and reviewed numbers included in Amazon’s quarterly and annual earnings statements that were filed with the SEC. The agency said she “acquired, and tipped her husband Viky Bohra with, highly confidential information about Amazon’s financial performance.”
Viky Bohra and his father, Gotham Bohra, traded Amazon stock using this confidential information in 11 separate accounts, which were maintained by various members of the Bohra family, according to the SEC.
The alleged illicit activity took place between January 2016 and July 2018, the SEC said.
https://www.bizjournals.com/seattle/news/2020/09/28/former-amazon-employee-insider-trading.html
Any trade that large usually triggers an alert.