News@lemmy.worldEnglish · 8 months ago

BP exec's husband guilty of insider trading $1.8 million, snooped on her calls

www.cnbc.com

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BP exec's husband guilty of insider trading $1.8 million, snooped on her calls

www.cnbc.com

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News@lemmy.worldEnglish · 8 months ago

Loudon's wife was formerly a BP merger and acquisitions manager but was fired after the company learned of the insider trading.

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.

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8 months ago
If you steal bp’s stockholders wouldn’t that make you an environmentalist and model citizen?

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