The Securities and Exchange Commission (SEC) charged a former Amazon.com Inc. finance manager and two family members with insider trading in advance of the company’s earning announcement between January 2016 and July 2018.
Laksha Bohra was a senior manager in Amazon’s tax department where she prepared and reviewed calculations used in finalizing the numbers included in Amazon’s quarterly and annual earnings that were filed with the SEC. The US watchdog alleges that from January 2016 to July 2018, Laksha Bohra tipped her husband Viky Bohra with highly confidential information about Amazon’s financial performance.
The Commission alleges that Viky Bohra and his father, Gotham Bohra, used this confidential information in trading in 11 separate accounts maintained by different members of the Bohra family. The SEC also claims that Laksha Bohra disregarded quarterly reminders prohibiting her from passing such material nonpublic information or recommending the purchase or sale of Amazon securities. The Bohra family reaped illicit profits of approximately $1.4 million from their unlawful trading in Amazon securities.