SEC accuses former Amazon CFO and her family in $ 1.4 million insider trading case
A former senior Amazon tax official has been charged with insider trading by the Securities and Exchange Commission.
Laksha Bohra reportedly acquired confidential information while she prepared and reviewed the calculations used to formulate Amazon’s quarterly and annual profits filed with the SEC between January 2016 and July 2018, according to a press release from the agency on Monday.
Bohra is accused of giving information about Amazon’s financial performance to her husband, Viky Bohra. The complaint alleges that Viky Bohra and his father, Gotham Bohra, exchanged information about 11 separate accounts maintained by different members of the Bohra family.
Laksha Bohra is also said to have “ignored quarterly reminders prohibiting him from transmitting important non-public information or recommending the purchase or sale of Amazon stocks.” The family is said to have made $ 1.4 million in profits from the illegal trade.
“We allege that the Bohras have repeatedly and systematically used Amazon’s confidential information for their own benefit,” Erin Schneider, director of the SEC’s regional office in San Francisco, said in a statement. “Employees with access to confidential and market-changing company information cannot use this information to enrich themselves, to enrich their friends or family. “
The lawsuit filed in federal court in Seattle accuses the three Bohras of violating the anti-fraud provisions of federal securities laws. The three, all from Bothell, Wash., Consented to the entry of final judgments permanently barring them from further violations of the impugned provisions and ordering them to pay a total restitution of $ 1,428,094, total pre-judgment interest of 118 $ 406 and total penalties of $ 1,106,399.
Amazon told GeekWire it is not commenting on pending litigation.
Laksha Bohra started as a transfer pricing manager in Amazon’s tax department in December 2012 and was promoted to senior executive in May 2018, according to the court filing. His employment was suspended on or around October 25, 2018.
Viky Bohra is listed as a program manager at a state-owned Fortune 500 technology company, and prior to that he worked as an engineer at two large state-owned companies, the rankings notes.