Man Pleads Guilty to Insider Trading While Working at Home, Profits $1.7 Million
• Man illegally trades stocks based on overhearing wife's business calls while working from home, makes $1.7M profit • Wife works for BP in mergers & acquisitions, man hears about upcoming BP acquisition of a truck stop company • Man buys over 46,000 shares of truck stop company before merger announced, stock price spikes 71% after deal revealed • Man agrees to forfeit $1.7M profits, pleads guilty to securities fraud, faces up to 5 years in prison and $250K fine • Incident shows danger of trading stocks using insider knowledge gained while working from home with spouse