Posted 2/26/2024, 2:28:00 PM
Husband Illegally Profits $1.76 Million by Eavesdropping on Wife's Work Calls About Acquisition
- Tyler Loudon, husband of a BP exec, made $1.76M illegally by eavesdropping on his wife's work calls while they worked remotely together.
- Loudon bought nearly 50,000 shares of TravelCenters stock based on info from his wife's calls about BP's potential acquisition.
- When the acquisition was announced, Loudon sold the shares for a $1.76M profit.
- Loudon's wife reported him after learning employees would be scrutinized about the acquisition. She was later fired.
- Loudon pleaded guilty to securities fraud and faces up to 5 years in prison.