An old financial analyst at Amazon allegedly leaked the company's results to a brotherly brother in exchange for $ 10,000, the Securities and Markets Commission announced on Thursday.
The agency accuses Brett Kennedy and Maziar Rezakhan of insider information. He claims that Kennedy provided Rezakhani Amazon revenue for the first quarter of 2015, while Kennedy was a company employee. Rezakhan allegedly paid Kennedy $ 10,000 in cash for the results and earned more than $ 116,000 in illegal profits from the results, the SEC said.
Rezakhan also allegedly shared the money with Sam Sadeghi, who ordered him to exchange. Sadeghi allegedly met Rezakhani and Kennedy to discuss the results. The SEC said that Rezakhani and Sadeghi wanted to establish a record of success under Sadeghi's brokerage account and eventually they started a hedge fund.
Rezakhan predicted Amazon's revenue and boasts at least two trade-related communication platforms that figures are so clear that a 5-year-old boy can guess what they will do, according to the SEC.
"As claimed in our claim, Rezakhani has boasted social media that can accurately predict Amazon's financial results," said Jina L. Choi, director of the San Francisco regional office. from the SEC. "But he could not expect us to take it and his accomplices in their illegal scheme."
Sadeghi and Kennedy accepted settlements without acknowledging or denying accusations. Both agreements require judicial approval. Sadeghi agreed to pay $ 24,214.87 and Kennedy agreed to pay $ 10,875.36, according to the SEC.
Separately, the West District Attorney's Office of Washington announced criminal charges against Kennedy
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