Bothell man convicted of illicit trading in Amazon stocks | Washington News

SEATTLE (AP) – A 37-year-old man from Bothell, Washington, was sentenced Thursday to 26 months in jail for illegally buying and selling Amazon shares, in line with federal prosecutors.

Viky Bohra pleaded responsible to securities fraud in November 2020, US Lawyer Tessa Gorman mentioned. Bohra admitted that he used Amazon inside info to commerce Amazon shares between 2016 and 2018 and made a revenue of $ 1.four million.

The data got here from his spouse, an Amazon monetary worker, Gorman mentioned. She had confidential details about Amazon’s revenue and bills. Due to this work, they have been topic to blocking durations throughout which no shares could possibly be traded. Regardless of this limitation, Bohra did commerce throughout the blackout durations.

“This defendant and his spouse earned lots of of 1000’s of {dollars} in salaries and bonuses from their engineering jobs – however he was dissatisfied with them – and greedily deliberate to illegally revenue by buying and selling Amazon shares,” Gorman mentioned in a press launch. “This case ought to function a warning to these attempting to play the markets with insider buying and selling: there’s a heavy value to pay with a conviction and jail sentence.”

Underneath the settlement, Bohra’s spouse is not going to face felony fees. Bohra’s spouse is now not employed by Amazon.

Political cartoons

Copyright 2021 The Related Press. All rights reserved. This materials might not be printed, broadcast, rewritten, or redistributed.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button