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Sep

07

Hedge Fund Wannabes Busted for Trading on Illegal Amazon Tips

By Tony Seruga

Trader bought inside information from his pal at Amazon: SEC
Goal was to show he was top trader and start hedge fund

Two men who had dreams of starting a hedge fund have been accused of taking an unfortunate shortcut to show they were top-notch traders: buying illegal tips from their friend at Amazon.com Inc.

Maziar Rezakhani and Sam Sadeghi of Washington state paid Amazon analyst Brett Kennedy $10,000 for nonpublic information on the online retailer’s 2015 first-quarter earnings, the U.S. Securities and Exchange Commission said in a Thursday statement. Their goal was to establish a successful track record so they could impress investors and start a New York hedge fund, the SEC said…

Hedge Fund Wannabes Busted for Trading on Illegal Amazon Tips

Categories : Hedge Funds

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