Posted 2/26/2024, 11:51:00 AM
Texas Man Pleads Guilty to Insider Trading Scheme Involving Wife's Work Calls
- Texas man made $1.76 million from insider trading based on overhearing wife's business calls
- Wife worked from home for BP and man overheard details of acquisition plan
- Bought stock in target company before merger announced and stock price spiked
- Faces up to 5 years in prison and $250,000 fine after pleading guilty to securities fraud
- SEC says he took advantage of working from home and wife's trust to profit on confidential info