BP exec's husband guilty of insider trading $1.8 million, snooped on her calls
KEY POINTS
- Tyler Loudon, 41, pleaded guilty to insider trading charges, claiming that he profited $1.76 million based on nonpublic knowledge of BP’s acquisition of TravelCenters of America.
- Loudon, the husband of a former BP merger and acquisitions manager, learned of the acquisition in 2022 after secretly eavesdropping on his wife’s work calls.
- Loudon has been ordered to surrender his $1.76 million of illegal profits and pay a separate fine of the same amount.
https://www.cnbc.com/2024/02/25/bp-exec-husband-guilty-of-insider-trading-snooped-on-her-calls.htmlOpen linkView original on lemmy.world388
Comments15
'Hey you're not a lawmaker you can't do that!'
It's literally the worst thing you can do in a democracy. Allow your representatives manipulate/be manipulated by the stock market
More specifically, they are EXEMPTED from insider trading laws that apply to all other citizens. That is hypocrisy at its finest. Just like how they vote on whether to give themselves raises.
Sucks that she did the right thing and self-reported the situation to her supervisor after finding out about it from her husband and was still fired.
HR exists to protect the business, not the employee
Agreed. Might as well deny, deny, deny.
She could've done literally nothing and nobody would've cared. This happens everyday all over the world.
"secretly eavesdropping" Good story.
I mean, she reported him and then divorced him, so it doesn't sound like she was on board.
Could be trying to separate assets? Though I'm pretty sure wherever the assets were at the time of the crime is what matters, some people be stupid.
And only after they found out people were getting investigated
You would presume that the partner of a BP exec would have sufficient household income. Apparently not..
"Honey, our third yacht ain't gonna pay for itself!"
If you steal bp's stockholders wouldn't that make you an environmentalist and model citizen?