A Bothell, Wash., man whose wife was previously a finance manager at Amazon, has pleaded guilty to securities fraud for his role in an insider trading scheme involving the couple and another family member.
Viky Bohra, 36, admitted in U.S. District Court in Seattle on Thursday that he used Amazon inside information he obtained from a relative to place trades in Amazon stock, which made a profit of $1,428,264.
The Securities and Exchange Commission charged that Bohra’s wife had access to confidential information regarding Amazon revenue and expenses. Bohra obtained that confidential information and traded in Amazon stock in accounts tied to him and his father, according to a news release.
As part of the plea agreement, Bohra’s wife, who is no longer employed at Amazon, will not face criminal charges. Bohra also agreed to forfeit the proceeds of his trades to the United States. Securities fraud is punishable by up to 25 years in prison and a $250,000 fine. Under the terms of the plea agreement prosecutors will recommend a sentence of no more than 33 months in prison, according to the Department of Justice.
Bohra was listed as a program manager at a Fortune 500 public technology company, and prior to that he worked as an engineer at two large public companies, a September court filing noted.
Bohra is scheduled to be sentenced on Feb. 8.