Home » He eavesdrops on his wife’s meetings and earns 1.7 million on the stock market. Sentenced for insider trading

He eavesdrops on his wife’s meetings and earns 1.7 million on the stock market. Sentenced for insider trading

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He eavesdrops on his wife’s meetings and earns 1.7 million on the stock market.  Sentenced for insider trading

MILANO – Listening to your wife’s phone calls is never advisable, in fact it can turn into a big problem. She knows it well Tyler Loudonhusband of a former employee of British Petroleumthat after having heard from his wife who was working remotelytalk about a imminent acquisition of truck service stations TravelCenters of America, now it is investigated for insider trading, risks 5 years in prison and a fine of 250 million dollars. Not only is the man in trouble with the law, but he has been left by his wife who asked for a divorce after being fired, although according to the SEC’s investigations, her involvement in her husband’s illegal activity has not been proven .

The sentence expected in May

It seems like a film, but it is a true story of those that can happen in the heart of the American wild west. Tyler Loudon, 42, pleaded guilty before the federal court in Houston, Texas, and gave up $1.76 million in illegal earnings. Sentencing is expected May 17 before Second District Judge Sim Lake Reuters, Loudon faces up to five years in prison and a $250,000 fine. Furthermore, the man already has pgiven a hefty finerelated to the insider trading story with the authority that supervises US marketsla Securities and Exchange Commission (Sec).

The SEC clears the wife

The investigations carried out by the SEC have reconstructed that over the course of a month and a half, Loudon raked in 46,450 TravelCenters shares, unbeknownst to his wife who was working remotely for BP. The price of TravelCenters shares it increased 71% after the announcement of the 1.3 billion dollar acquisition, announced by BP on February 16th. After the announcement, Loudon he quickly sold his package, realizing a capital gain of 1.76 million. According to the SEC, Loudon left his wife stunned by confessing that he had purchased the shares to earn enough money so that she could work less. The woman then reported her husband to the competent authorities, alerting the oil giant of what happened. The SEC stated that the Once the investigation was discovered, BP placed Loudon’s wife on administrative leave and then fired her, despite finding no evidence that she knowingly leaked the acquisition or knew of her husband’s insider trading. Ludon’s wifeshe immediately moved out of the home she shared with her husband, and last June he started divorce proceedings.

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