Rezakhani also shared part of the profit with Sam Sadeghi, an individual who helped him on his brokerage account trades.
Rezakhani participated in at least two online trading communities and said it was "so obvious" what Amazon would report in the quarter that even a "5 year old can guess what they will do."
Without admitting wrongdoing, Sadeghi and Kennedy will pay a settlement of $11,599.74 plus $1,035.39 in interest and an $11,599.74 penalty for a total of $24,214.87, the SEC also said.
Kennedy will also face criminal charges from the U.S. Attorney's Office for the Western District of Washington.Related Links: A Peek Into The Markets: U.S. Stock Futures Signal Lower Start On Wall Street 7 Stocks To Watch For September 8, 2017
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.