New York (CNN Business)A former finance manager for Amazon.com and two of her family members were charged on Monday with insider trading by the Securities and Exchange Commission, which accused the family of making $1.4 million from unlawful trading.

The complaint alleges that Laksha Bohra, a senior manager in Amazon’s tax department, leaked confidential information about the company’s financial performance to her husband Viky Bohra. The husband and his father then traded on the confidential information in 11 separate accounts managed by the family, according to the SEC complaint. Bohra’s lawyers didn’t immediately respond to a request for comment. Amazon (AMZN) declined to comment on the charges. The SEC said the trading took place in advance of Amazon’s earnings announcements between January 2016 and July 2018. “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.”

Source Link:
https://www.cnn.com/2020/09/28/tech/amazon-sec-insider-trading/index.html

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