WASHINGTON (Reuters) – The Securities and Exchange Commission on Monday announced Amazon.com, Inc. And charged two members of his family with Insider Trading from January 2016 to July 2018 before the company’s earnings announcements.
The SEC alleged that Laksha Bohra, who worked as a senior manager in Amazon’s tax department, had obtained highly confidential information about Amazon’s financial performance to her husband Vicky Bohra.
The complaint alleges that Vicky Bohra and his father, Gotham Bohra, traded on this confidential information, causing an illegal gain of approximately $ 1.4 million.
The SEC complaint, filed in federal court in Seattle, accuses all three Bohras of violating the anti-fraud provisions of federal securities laws. They have agreed to pay a total disgorgement of $ 1,428,094, a total prejudgment interest of $ 118,406, and a total penalty of $ 1,106,399.
In parallel action, the US Attorney’s Office for the Western District of Washington today filed criminal charges against Vicky Bohra.
“We allege that Bohra has repeatedly and systematically used Amazon’s confidential information for its own benefit,” Erin Schneider, who serves as the director of the SEC’s San Francisco Regional Office.
“Employees with access to confidential, potentially market-driven corporate information cannot use that information to enrich themselves, their friends, or their family,” he said.
Each of the Bohras did not immediately respond to Reuters’ request for comment.
Amazon declined to comment.