BENGALURU: The husband of a former Amazon employee was sentenced to 26 months in prison for insider trading of its own inventory.
Viky Bohra, 37, pleaded guilty in November 2020, declaring between 2016 and 2018, he utilized inside information he acquired from his spouse, then a worker at Amazon’s finance division, to place transactions in Amazon inventory, creating a gain of $1,428,264, according to a discharge in the US lawyer.
US Attorney Tessa Gorman explained,”This situation should behave as a warning to people who attempt to match the markets with Forex tradingthere is a hefty price to pay using a felony conviction and prison term.” According to documents filed in the situation, Bohra’s spouse had access to private information about Amazon earnings and expenditures.
“Because of the function, Bohra along with his spouse were subject to blackout periods where no Amazon inventory could be exchanged.
Bohra’s spouse was informed of cyber gambling policies which makes it clear that the obligation to protect confidential fiUS Attorney Tessa Gorman stated,”This situation should stand as a warning to people who attempt to match the markets with Forex trading: there’s a hefty price to cover a felony conviction and jail sentence” According to documents filed in the situation, Bohra’s spouse had access to private information about Amazon earnings and expenditures.
“Because of the function, Bohra along with his spouse were subject to blackout periods where no Amazon inventory can be traded.
Bohra’s spouse was informed of foreign exchange policies which makes it clear that the obligation to protect confidential financial advice,” the documents stated.
Despite warnings, Bohra acquired his spouse’s confidential info and exchanged in Amazon stock and alternatives at accounts tied to his dad.
Trades happened during blackout periods and ahead of Amazon earnings statements.
In September this past year, Bohra was billed with the SECin a civil insider trading situation.
He along with his relatives also have paid $2,652,899 at disgorgement, penalties and interest.
Depending upon those obligations, the government isn’t seeking forfeiture.
As a part of this plea arrangement, Bohra’s spouse won’t face criminal charges.