Posted 2/23/2024, 12:14:13 PM
Husband Profits $1.76 Million From Wife's M&A Calls Overheard at Home
- Husband allegedly overheard wife's work calls while working from home and made $1.76 million in illegal profits by trading on confidential M&A information
- Wife was mergers and acquisitions manager at BP working on takeover of TravelCenters
- Husband purchased TravelCenters stock before deal announced, stock price rose 71% after, husband sold all shares
- Wife terminated by BP, initiated divorce proceedings, husband did not deny allegations and agreed to pay SEC penalty
- FCA warned about insider trading risks with at-home work during pandemic, said effective surveillance remains critical