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Ex-Amazon staffer’s husband jailed for insider trade in US, had gained $1.4mn – Times of India


BENGALURU: The husband of a former Amazon employee has been sentenced to 26 months in prison for insider trading of its stock. Viky Bohra, 37, pleaded guilty in November 2020, admitting that between 2016 and 2018, he used inside information he obtained from his wife, then an employee in Amazon’s finance department, to place trades in Amazon stock, making a profit of $1,428,264, according to a release from the US attorney.
US Attorney Tessa Gorman said, “This case should stand as a warning to those who try to game the markets with insider trading: there is a heavy price to pay with a felony conviction and prison sentence.” According to records filed in the case, Bohra’s wife had access to confidential information regarding Amazon revenue and expenses. “Because of that work, Bohra and his wife were subject to blackout periods during which no Amazon stock could be traded. Bohra’s wife was advised of insider trading policies making it clear the responsibility to safeguard confidential fiUS Attorney Tessa Gorman said, “This case should stand as a warning to those who try to game the markets with insider trading: there is a heavy price to pay with a felony conviction and prison sentence.”
According to records filed in the case, Bohra’s wife had access to confidential information regarding Amazon revenue and expenses. “Because of that work, Bohra and his wife were subject to blackout periods during which no Amazon stock could be traded. Bohra’s wife was advised of insider trading policies making it clear the responsibility to safeguard confidential financial information,” the records said.
Despite warnings, Bohra obtained his wife’s confidential information and traded in Amazon stock and options in accounts tied to him and his father. Trades occurred during blackout periods and in advance of Amazon earnings announcements. In September last year, Bohra was charged by the SECin a civil insider trading case. He and his family members have paid $2,652,899 in disgorgement, interest and penalties. Based upon these payments, the government is not seeking forfeiture. As part of the plea agreement, Bohra’s wife will not face criminal charges.





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