Friday, February 23, 2024

The $1.76m Eavesdropping Story

Mr Loudon, of Houston, Texas, and his wife worked in home offices within 20 feet of each other.

His wife - a mergers and acquisitions manager at BP - worked on the oil giant's takeover of TravelCenters.

"As a result, they frequently overheard and witnessed each other's work-related conversations and video conferences." ...Mr Loudon confessed to his wife about buying the TravelCenters shares after the Financial Industry Regulatory Authority began asking questions about the BP deal and who was "in the know"...The US Securities and Exchange Commission alleged Tyler Loudon made $1.76m in illegal profits....His wife - who was "stunned by this revelation" - reported the trading to her supervisor at BP.

Mr Loudon's wife moved out of the house and ceased all contact with him. In June, she initiated divorce proceedings. more