(Bloomberg) 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
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