SEC charges former Amazon finance manager and family with insider trading

Post by vmception » Mon, Sep 28, 2020, 11:14 PM UTC

mc32 wrote: post #61

timack wrote: post #33

Earlier quoted context omitted.

Martha Stewart was jailed for avoiding a loss of ~$45k USD.

I think she gets a bad rap. Obviously being wealthy makes her unsympathetic, but that's peanuts. And they 'got' he for 'lying' and not for securities fraud -among the original charges. But the thing is there are much bigger fish to fry --why not go after international investors who have sheel companies within shell companies, etc. But... I mean, I guess this is a career bump or bonus for someone doing investigations.

Post by kens » Mon, Sep 28, 2020, 11:15 PM UTC

timack wrote: post #33

bredren wrote: post #19

Earlier quoted context omitted.

People do really dumb things for relatively small amounts of money. Look up examples of corruption in US city administrators. You’ll see people who throw away their career over $30k.

Martha Stewart was jailed for avoiding a loss of ~$45k USD.

Post by [deleted] » Mon, Sep 28, 2020, 11:16 PM UTC

gavinray wrote: post #75

boulos wrote: post #32

From the complaint, it was OTM calls and puts, but it seemed like they were trying to decide how much to go in. > 42. Prior to the completion of Bohra’s initial review, her Husband had purchased 500 Amazon shares in put options in his account on January 8. These put options had an expiration date of February 16, 2018, and they represented his expectation that Amazon’s stock price would fall by that date. > 48. During…

> Bohra’s Husband and Bohra’s Father-in-Law had spent more than $850,000 on purchasing Amazon call options and common stock in order to trade > Amazon’s stock price increased 2.87% over the prior day’s closing price. > In total, accounts belonging to Bohra’s Husband, her Father-in-Law, and her 10 Mother-in-Law made a profit of approximately $664,000 Am I stupid? $850,000 * 1.0287 = $874,395, which is $24,395 profit.…

Post by vmception » Mon, Sep 28, 2020, 11:16 PM UTC

TeMPOraL wrote: post #65

boulos wrote: post #60

For those wondering “really, they had the Amazon earnings ahead of time and only made $1.4M?” this reminded me of a good Matt Levine writeup about a group of folks who obtained massive numbers of earnings reports ahead of time [1]. Having the clear knowledge of the earnings report doesn’t give you perfect knowledge on how to trade it / the reaction! > Their performance is statistically significantly greater than that…

Remember the recent Twitter attack, where malicious actors were able to post from many high-profile & verified accounts? The attackers could've done just about anything. Moved stocks. Start World War 3. And all they did was try a cryptocurrency scam that netted them $couple-thousand.

Post by bargl » Mon, Sep 28, 2020, 11:22 PM UTC

filmgirlcw wrote: post #100

bargl wrote: post #85

Earlier quoted context omitted.

>let’s not pretend this family didn’t violate the law here either. No actually, let's do pretend this family didn't violate the law here. Let's assume that allegedly means just that. We have this crazy double standard in the US, we want to assume the police are incompetent, but then when they accuse someone we assume they are guilty. How about we assume this is a competent accusation that may or may not be factual, a…

Or how about the fact that >” All three Bohras have consented to the entry of final judgments permanently enjoining them from further violations of the charged provisions, and ordering them to pay total disgorgement of $1,428,094, total prejudgment interest of $118,406, and total penalties of $1,106,399.” It isn’t alleged. They pled out. There is a parallel charge against the husband by the US Attorney in the Western…