CyberNews Briefs

Former Amazon Employee Charged with $1.4m Insider Trading Scheme

On Monday, the Securities and Exchange Commission (SEC) charged a former Amazon finance manager and two family members with inside trading after an investigation concluded the former employee intentionally misused tax details she had access too as part of her role at Amazon. The SEC confirmed that the charges related to the Amazon earnings announcements released between January 2016 and July 2018.

The woman, Laksha Bohra, had access to sensitive company information within Amazon’s tax department, tasked with reviewing calculations and finalizing details relating to the company’s quarterly and annual earnings. Bohra allegedly gave her husband confidential information on the earnings, which he then passed on to his father using 11 accounts managed by the family. The SEC also claims that Bohra failed to follow Amazon’s instructions to refrain from sharing non-public information or recommending the purchase or sale of Amazon securities, which is illegal. The Bohra family reportedly made $1.4 million from insider trading.

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