Insider Trading Conviction For Gambler/Amazon Financial Analyst

By on September 13, 2017

September 13, 2017

A former financial analyst at Amazon pleaded guilty to an insider-trading charge on 9-7. He admitted tipping off a former frat brother at the University of Washington about the company’s soon to be released first-quarter earnings report, in spring 2015. His bro paid the analyst $10,000 out of the $116,000 profit he made in stock trades based on the information. The scheme was revealed while investigators were looking into a separate, $3 million fraud by the analyst’s friend, who is presently serving five years in federal prison. At his plea hearing, the analyst’s lawyer told the judge his client is a part-time professional gambler and asked permission for him to be allowed to continue gambling until his sentencing. The request was denied.
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The Seattle Times

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