In this case, it was a planned crime, with profits ship to Seychelles(no aml) and then on to India. Had a fine been possible, no jail time. This type of corruption is never single sourced - the information transfer for all value types, are done where schema and data(databases in total) -- leaving US national security for sale eg "sunburst" and public data in the hands of ( car warranties stalkers ) In sum, all Amazon data has is in the hands of India criminal networks having for travel, fake ids and blackmail .. leaving American youth unqualified for jobs in their country.. its hard to compete against fake credentials and coordinated action ( the results are obvious )
Husband of Amazon employee sentenced to prison for insider trading Amazon stock
51–60 of 243 posts
Re: Husband of Amazon employee sentenced to prison for insider trading Amazon stock
#52Earlier quoted context omitted.
Those private briefings likely did not contain nonpublic information, or especially nonpublic information about specific companies. The pandemic seemed obvious in February; I know dozens (myself included) who bought masks and supplies long before the run on stores, long before even the USG was lying to people telling them not to wear masks (to preserve the supply). The briefings were around then. Were I a gambling ma…
There absolutely was nonpublic information. Probably not about individual companies but certainly about the degree of the looming impact to the global economy.
You're overestimating what these private member briefings are really like.
Re: Husband of Amazon employee sentenced to prison for insider trading Amazon stock
#53Earlier quoted context omitted.
Those private briefings likely did not contain nonpublic information, or especially nonpublic information about specific companies. The pandemic seemed obvious in February; I know dozens (myself included) who bought masks and supplies long before the run on stores, long before even the USG was lying to people telling them not to wear masks (to preserve the supply). The briefings were around then. Were I a gambling ma…
There absolutely was nonpublic information. Probably not about individual companies but certainly about the degree of the looming impact to the global economy.
What nonpublic information do congresspeople have about how pandemics might impact the global economy?
Re: Husband of Amazon employee sentenced to prison for insider trading Amazon stock
#54How does this even end up on the SEC or IRS radar? $1.4M seems like a blip in the grand scheme of things.
SEC targets regular people to keep us in line. They let big institutional traders and connected people go.
Re: Husband of Amazon employee sentenced to prison for insider trading Amazon stock
#55Earlier quoted context omitted.
From the article > As part of the plea agreement, Bohra’s wife will not face criminal charges. Bohra’s wife is no longer employed at Amazon.
I understand the plea deal, but why. I am assuming they had evidence she gave him the data. Why let her off?
if you don't personally profit from the bet... it's not one.
Re: Husband of Amazon employee sentenced to prison for insider trading Amazon stock
#56How does this even end up on the SEC or IRS radar? $1.4M seems like a blip in the grand scheme of things.
I have no doubt the SEC has a bunch of rules they use to flag suspicious transactions. The data analysis spits out a few names and they follow up in person to see who lawyers up and who cracks under pressure.
It's also why Matt Levine's "rules of insider trading" includes "Don’t do it by buying short-dated out-of-the-money call options on merger targets".
Certain transactions are suspicious as hell, especially when they can look at your trading history and determine you've never really traded much and just opened the account 2 days prior and made a $100,000 bet on the trade. Or for the really clever people, they find out although you made a suspicious trade you don't work for Amazon, but LinkedIn says you're the wife of someone who works in finance there. Oops!
Though I wonder if that rule needs to be updated with r/WSB doing these trades all the time.
https://www.bloomberg.com/opinion/articles/2018-08-12/the-10...
Re: Husband of Amazon employee sentenced to prison for insider trading Amazon stock
#57How do they prove this? A lot of people play earnings. Amazon is not an obscure stock. In fact, making an earnings play on Amazon is probably one of the more reasonable safer things to do compared to what the world is up to now days.
They look for accounts that make consistently "lucky" large trades during blackout periods before earnings but at or just after the close of the quarter. Then they run the SSN/address/bank accounts/phone # associated with the trading account and compare to lists of insiders supplied by companies of who has access to their financial info. I think they also have separate flags on insider's tax returns to look for any u…
> When they [the SEC] get suspicious matches they run them down to see if there's anything there
Re: Husband of Amazon employee sentenced to prison for insider trading Amazon stock
#58Does anyone honestly care about a million dollar trade by some employee's husband? The bar for insider trading is hilariously low - this seems like a total waste of time and resources when you could be chasing whales like you should be.
About one person, probably not. I think this one hits close to home for a lot of us that have stock in many of these large companies from being employees. Granted, this situation seems particularly egregious, trading off of insider financial information not even available to most employees, but still. I believe the intent was to provide a chilling effect on regular people at FAMGAN-type companies who may have some ac…
I was sure the acronym was FAGMAN...
Re: Husband of Amazon employee sentenced to prison for insider trading Amazon stock
#59Stories like this boggle my mind. How do such people think that they are going to get away with this? If I were going to try something like this I would at least make some attempt to obfuscate my activities; trading through proxies, mixing in losing trades, something.
Re: Husband of Amazon employee sentenced to prison for insider trading Amazon stock
#60Does anyone honestly care about a million dollar trade by some employee's husband? The bar for insider trading is hilariously low - this seems like a total waste of time and resources when you could be chasing whales like you should be.
> Does anyone honestly care about a million dollar trade by some employee's husband?
Yes.
> this seems like a total waste of time and resources
I'm willing to bet that the investigation and prosecution cost less than the ~$1.2 million in excess fines Bohra had to pay. Not really a waste of resources if it's a profitable endeavour.