SEC charges ex-Amazon chief with insider trading charge

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Amazon corporate office building in Sunnyvale, CaliforniaLisa Werner | Moment Mobile | Getty Images

The Securities and Exchange Commission charged a former Amazon CFO and two family members with insider trading, saying Monday they made around $ 1.4 million from illegal transactions.The agency alleges that Laksha Bohra, who worked as a senior executive in Amazon’s tax department, had access to confidential Amazon information ahead of the company’s quarterly and annual earnings reports.

From January 2016 to July 2018, Bohra reportedly informed her husband Viky Bohra of the company’s financial performance. Bohra’s husband would then trade the stock with his father, Gotham Bohra, on the confidential information, the SEC said. The group reportedly exchanged confidential information in 11 separate accounts maintained by the family.

The SEC filed a lawsuit in federal court in Seattle, accusing family members of violating anti-fraud provisions of federal securities laws.

Amazon declined to comment on the charges. A lawyer for Laksha Bohra did not immediately respond to a request for comment.

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