The Securities and Exchange Commission (SEC) of the United States has charged former finance manager at Amazon.com, Inc. (NASDAQ:AMZN), Laksha Bohra, and two family members with insider trading.
According to a statement from the regulator on Monday, the SEC has charged Laksha Bohra, Viky Bohra, and Gotham Bohra with insider trading in advance of Amazon announcing its earnings between January 2016 and July 2018.
Whilst employed at the multinational technology giant, Laksha Bohra worked as a senior manager in the company’s tax department. In this role, she prepared and reviewed calculations used to finalise numbers for the company’s quarterly and annual earnings, which were filed through the SEC.
In its complaint, the SEC alleges that between January 2016 and July 2018 she acquired and tipped her husband, Viku Bohra with highly confidential information about the tech giant’s financial performance.
The complaint, which was filed in the U.S. District Court for the Western District of Washington, also claims that Viky Bogra and his father, Gotham Bohra, traded on this confidential information in 11 separate accounts.
SEC Alleges Laksha Bohra Disregarded Amazon Rules
“The complaint further alleges that Laksha Bohra disregarded quarterly reminders prohibiting her from passing material nonpublic information or recommending the purchase or sale of Amazon securities. As alleged, the family reaped illicit profits of approximately $1.4 million from their unlawful trading in Amazon securities,” the SEC said in its statement on Monday.
Specifically, Laksha Bohra, Viky Bohra, and Gotham Bohra have been charged with violating Section 10(b) of the Securities Exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
Read this Term Act of 1934 and Rule 10b-5 thereunder. The complaint orders the defendants to pay total disgorgement of $1,428,094, total prejudgment interest of $118,406, and total penalties of $1,106,399.
Furthermore, In a parallel action, the US Attorney’s Office for the Western District of Washington has filed criminal charges against Viky Bohra, the husband of the former employee of Amazon.
The Securities and Exchange Commission (SEC) of the United States has charged former finance manager at Amazon.com, Inc. (NASDAQ:AMZN), Laksha Bohra, and two family members with insider trading.
According to a statement from the regulator on Monday, the SEC has charged Laksha Bohra, Viky Bohra, and Gotham Bohra with insider trading in advance of Amazon announcing its earnings between January 2016 and July 2018.
Whilst employed at the multinational technology giant, Laksha Bohra worked as a senior manager in the company’s tax department. In this role, she prepared and reviewed calculations used to finalise numbers for the company’s quarterly and annual earnings, which were filed through the SEC.
In its complaint, the SEC alleges that between January 2016 and July 2018 she acquired and tipped her husband, Viku Bohra with highly confidential information about the tech giant’s financial performance.
The complaint, which was filed in the U.S. District Court for the Western District of Washington, also claims that Viky Bogra and his father, Gotham Bohra, traded on this confidential information in 11 separate accounts.
SEC Alleges Laksha Bohra Disregarded Amazon Rules
“The complaint further alleges that Laksha Bohra disregarded quarterly reminders prohibiting her from passing material nonpublic information or recommending the purchase or sale of Amazon securities. As alleged, the family reaped illicit profits of approximately $1.4 million from their unlawful trading in Amazon securities,” the SEC said in its statement on Monday.
Specifically, Laksha Bohra, Viky Bohra, and Gotham Bohra have been charged with violating Section 10(b) of the Securities Exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
Read this Term Act of 1934 and Rule 10b-5 thereunder. The complaint orders the defendants to pay total disgorgement of $1,428,094, total prejudgment interest of $118,406, and total penalties of $1,106,399.
Furthermore, In a parallel action, the US Attorney’s Office for the Western District of Washington has filed criminal charges against Viky Bohra, the husband of the former employee of Amazon.
