Associated Press
SEATTLE — A former financial analyst at Amazon has been sentenced to six months in prison and a $2,500 fine after admitting he tipped off a college friend to details about the company’s forthcoming first-quarter earnings report in spring 2015 — information the friend used to make a quick profit.
Brett D. Kennedy, of Blaine, pleaded guilty to a federal insider trading charge in September. Prosecutors said his former fraternity brother at the University of Washington, Maziar Rezakhani, used the info to make $116,000 on stock trades and then paid Kennedy $10,000 in cash for the tip.
Kennedy gave up the $10,000 in a settlement with the Securities and Exchange Commission.
Kennedy had been working as a financial analyst at Amazon since 2013. In a letter to the court he apologized to the company for abusing its trust and to his parents for letting them down, saying, “I wake up every day with the pain of regret for my actions.”
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