Husband Made $1.76M Insider Trading, Spying On Wife's Calls

Tyler Loudon, 42, of Houston, pleaded guilty to securities fraud Thursday from using info he got from listening into his wife. Loudon and his wife, who was identified as Emily Krause, were working remotely in a small Airbnb during a trip to Rome in December 2022 as she handled BP’s possible acquisition of the gas and truck stop operator, TravelCenters of America. Working in such close quarters, Loudon gained insider knowledge of the acquisition by eavesdropping on his then wife’s work from home calls. Over a period of several months, Loudon acquired 46,450 shares of TravelCenters without telling his wife, according to the US Attorney’s Office. When TravelCenters went public the London-based BP acquisition on Feb. 16, 2023, triggering its 71% stock jump, Loudon sold all of the shares and made $1.76 million, officials said. Loudon later came clean to his wife that he had illegally traded the shares “to make enough money so that she did not have to work long hours anymore,” according to the filing. She reported her husband to her supervisor, but she was later fired from BP — and she filed for divorce in June. Loudon pleaded guilty to securities fraud and agreed to forfeit the money he made illegally, the US Attorney’s Office said in a statement. Securities Fraud, insider trading, Tyler Loudon, BP, TravelCenters, Emily Kraus
—–
AEOR 513
—–
Varney: BP exec’s husband pleads guilty to insider trading #shorts, New York Post , Fox Business, Gravitas | US: Man eavesdropped on wife’s work calls charged with insider trading | WION, Gravitas | Word to the wise don’t spy on your spouse | WION Shorts, What is insider trading?, Why Prosecuting Insider Trading Is So Problematic, What is Insider Trading? [Explained], Nancy Pelosi | The Absolute Chaos Of Insider Trading,

source