Monday, October 26, 23:46
Home inet An Amazon executive used corporate information for her personal transactions

An Amazon executive used corporate information for her personal transactions

On Monday, the SEC (U.S. Securities and Exchange Commission) said that from at least January 2016 to July 2018, Laksha Bohra traded confidential information that she had access to as a member of Amazon's tax office.

The senior manager participated in the preparation and control of the financial statements included in the quarterly earnings of Amazon. Bohra allegedly used this knowledge to make "illegal profits", according to the SEC.

The 36-year-old Bohra not only played this game alone, but also reportedly advised members of her family, including her father-in-law and husband.

"Bohra ignored quarterly reminders prohibiting it from transmitting important non-public information or proposing market or the sale of Amazon securities / shares, ”the SEC said.

If a person has access to confidential financial information, they may be able to buy or sell stocks and securities based on predictions of what will happen to a company's stock prices. For example, the earnings may cause stock prices to rise, while disclosure of losses may cause stock prices to fall.

In all, over the past two years, the former director and her family have earned about $ 1,4 million. According information, Bohra's father-in-law told one of the brokerage firms that the accounts were treated as a "family affair".

amazon

"Amazon considered pre-release financial information to be confidential, highly sensitive, substantial and should not be disclosed," the agency said in a statement, adding that Amazon had previously taken a "zero tolerance" approach to the confidential trade. information.

Amazon suspended Bohra in October 2018, resulting in the resignation of Bohra. However, the reason they expelled her was not was revealed in the complaint.

The complaint imposes charges against all three of its members family for violating federal securities laws.

According to the SEC, all three agreed to repay $ 1.428.094, interest $ 118.406 and additional sanctions of $ 1.106.399.

"Employees with access to confidential, potentially moving corporate information should not use this information to make money on a personal level," said Erin Schneider, director of her regional office. SEC of San Francisco.

LEAVE ANSWER

Please enter your comment!
Please enter your name here

Teo Ehc
Teo Ehchttps://www.secnews.gr
Be the limited edition.

LIVE NEWS

00:01:52

US: Sanctions on a Russian institute for the development of Triton malware!

The US Treasury Department announced at the end of last week sanctions for a Russian research institute, which is allegedly involved ...

How to customize notifications for specific emails in Outlook

Your inbox may be flooded with junk emails. Sometimes, though, you really need to know when a particular message will arrive ...

Biomedical cyber attack: Hackers send phishing emails

Biomedical cyber attack: Hackers send phishing emails A cyber attack is underway that targets corporate users from many companies in Greece, with emails ...

How to control the brightness of your iPhone lens

It is probably no surprise to any iPhone owner that they can use the LED flash on the back of your iPhone as ...

Check for Windows 10 updates with these settings

Microsoft has added new settings that allow users to gain more control over how Windows Update ...

Microsoft did a survey and got angry with its results

Microsoft recently commissioned research firm YouGov to conduct a survey of 5.000 users - the questions were about the most general and ...

Popular children's apps are removed from the Play Store

The extremely popular applications Number Coloring, Princess Salon and Cats & Cosplay have been removed from the Play Store, after research by ...

Facebook Oculus: Those who use a lot of headsets are not banned

Oculus' move to "require" Facebook accounts is causing serious problems for some of its biggest fans. Windows Central reports ...

The school communities of Yorktown and Croton-Harmon were violated

The school communities of Yorktown and Croton-Harmon in Westchester County, have recently fallen victim to data breach, when a malicious agent infected with ransomware ...

5 ways to charge your new iPhone 12

Apple did the unthinkable with the new iPhone 12: It stopped including a charger in the box. The change was made with the aim ...