"Millions Made: Insider Trading Through Eavesdropping on Spouse's Calls"

1 min read
Source: WGHP FOX8 Greensboro
"Millions Made: Insider Trading Through Eavesdropping on Spouse's Calls"
Photo: WGHP FOX8 Greensboro
TL;DR Summary

Tyler Loudon of Houston pleaded guilty to securities fraud after making $1.7 million in profits by trading stocks based on information overheard from his wife's business calls while they were both working from home. His wife, an M&A manager at BP, unknowingly provided details about BP's plan to acquire a truck stop company, which Loudon used to buy shares before the merger was announced, resulting in a significant gain. He faces up to five years in federal prison and a possible fine, along with penalties from a separate civil case brought by the SEC.

Share this article

Reading Insights

Total Reads

0

Unique Readers

21

Time Saved

1 min

vs 2 min read

Condensed

66%

27494 words

Want the full story? Read the original article

Read on WGHP FOX8 Greensboro