Husband Accused of Making $1.8 Million from Insider Trading by Eavesdropping on Wife’s Work-from-Home Calls

[BigMoneyGrip]

A Texas man is facing charges after he allegedly used information overheard during his wife’s work calls to make $1.76 million on the stock market.

The Securities and Exchange Commission announced charges against Tyler Loudon on Thursday, alleging he purchased 46,450 shares in a company that was later being sold to BP.

BP announced in February 2023 that it was purchasing TravelCenters of America Inc., a truck stop chain that’s based in Ohio. The SEC alleges that Loudon had overheard several of his wife’s business calls while she was working from home, which tipped him off to the sale ahead of the company’s public announcement last year.

Loudon’s wife was a former merger and acquisitions manager with BP, according to Fortune.

“Loudon overheard several of his wife’s work-related conversations about the merger while she was working remotely,” the SEC said in a news release this week. “Without his wife’s knowledge, Loudon purchased 46,450 shares of TravelCenters stock before the merger was announced on February 16, 2023. As a result of the announcement, TravelCenters stock rose nearly 71 percent.”

Loudon “immediately sold all of his TravelCenters shares” after the stock rose, according to the SEC, profiting $1.76 million off the scheme.

“We allege that Mr. Loudon took advantage of his remote working conditions and his wife’s trust to profit from information he knew was confidential,” Eric Werner, the Regional Director of the SEC’s Fort Worth Regional Office, said in a statement. “The SEC remains committed to prosecuting such malfeasance.”

Loudon reportedly confessed to his wife, according to The Guardian and BBC, telling her he wanted to make enough money so that his wife didn’t need to continue working long hours.

His wife was “stunned by this revelation,” according to BBC. She then reported her husband to her superiors at BP, but was fired soon after coming forward with the information about her husband’s trading, according to The Guardian.

The woman later filed for divorce from her husband, according to the outlets.

The SEC says that Loudon did not deny the allegations. He reportedly agreed to a partial judgment, pending a court’s approval. If approved, Loudon would need to repay his profits with interest, on top of a fine that will be determined by the court.

Husband Accused of Making $1.8 Million from Insider Trading by Eavesdropping on Wife’s Work-from-Home Calls

His wife later filed for divorce after she was fired from her job

people.com

He ruined his wife’s career and possible future for a quick come up. Then he tells her AFTER THE FACT. Now she’s an accessory to the crime so she has to snitch.

I hope he goes bankrupt over this and is forced to pay her spousal support for the rest of his life.

He ruined his wife’s career? Ummmm no she ruined her career by telling her supervisors smh the fukk she thought was going to happen telling them? They would keep her around? Of course they fired her

The fact he told her she was better off not saying anything and telling her husband keep his fukkin mouth shut and don’t say one word.. if the authories ask her she has plausible deniability because there are not electronically or phone communications between her and her husband..

Both of them are stupid.. Him telling his wife when he shouldn’t have said shyt but more importantly not cash out so fukkin quick smh

 

[BigMoneyGrip]

It’s better one of them go down for it then both of them

Keep telling mofos white women ain’t loyal at all.. they will snitch on you without blinking

 

[Breh13]

That would be a suspicious transaction and fukked them both up. She had to get ahead of it.

Imagine they investigate and find out she’s M&A for BP who just bought that company and her husband made serious bank?

All you can say is AYO, serious fukkery.

 

[Loggie]

Would he have been straight if he didn’t dump the stock? Maybe held a month or two?

 

[LuuqMaan]

Shouldn’t have sold all of it looking suspicious.

Shouldn’t have told her anything.

Should’ve eavesdropped some more in the future if he got away with it.

 

[perfectblack999]

He ruined his wife’s career? Ummmm no she ruined her career by telling her supervisors smh the fukk she thought was going to happen telling them? They would keep her around? Of course they fired her

The fact he told her she was better off not saying anything and telling her husband keep his fukkin mouth shut and don’t say one word.. if the authories ask her she has plausible deniability because there are not electronically or phone communications between her and her husband..

Both of them are stupid.. Him telling his wife when he shouldn’t have said shyt but more importantly not cash out so fukkin quick smh

Bruh there’s no way she’s not get fired/fined/imprisoned if she didn’t come clean. You’re not getting around the SEC as a regular person. That’s too much money for them not to go after you

 

[Ezekiel 25:17]

Lol man you must not familiar with the SEC. There was NO WAY they/he were gonna “get away” with it

Was there another way without SEC knowing?

 

[BigMoneyGrip]

Bruh there’s no way she’s not get fired/fined/imprisoned if she didn’t come clean. You’re not getting around the SEC as a regular person. That’s too much money for them not to go after you

He cashed out too quick… now had he cashed out say $100k of that or $50k that would not have triggered the SEC..

 

[Ethnic Vagina Finder]

He ruined his wife’s career? Ummmm no she ruined her career by telling her supervisors smh the fukk she thought was going to happen telling them? They would keep her around? Of course they fired her

The fact he told her she was better off not saying anything and telling her husband keep his fukkin mouth shut and don’t say one word.. if the authories ask her she has plausible deniability because there are not electronically or phone communications between her and her husband..

Both of them are stupid.. Him telling his wife when he shouldn’t have said shyt but more importantly not cash out so fukkin quick smh

He told her AFTER HE SOLD THE STOCK.

It was going to be investigated sooner or later. And you calling her stupid, but everyone isn't built to be criminals and have street smarts. She was compromised obviously and she thought if she came to them first before they found out a different way, it would prove she was trust worthy.

 

[UpThruDere]

He shouldn’t have sold them off so quickly that was the red flag

 

[BigMoneyGrip]

He told her AFTER HE SOLD THE STOCK.

It was going to be investigated sooner or later. And you calling her stupid, but everyone isn't built to be criminals and have street smarts. She was compromised obviously and she thought if she came to them first before they found out a different way, it would prove she was trust worthy.

Ok but he was dumb cashing out all the stocks so quickly.. he should have cashed out $50k-$100k

 

[↓R↑LYB]

M&A Managers at BP make $225-$300k.

Greed will do you in.

Stupid fukking a$$hole. That kinda money you cruise to retirement. Stupid stupid stupid. It's no wonder she went right to them and told on him. There was no way he was going to be able to cash out like that and not have an investigation start. Stupid greedy fukk, man.

Assuming what Atomic saying is true, you're not cruising to retirement on 300k/yr.

 

[egsteel]

So interesting, he probably could have done this in a way that didn’t leave such an obvious paper trail. He was flagrant with it and / or she’s a co-conspirator.

Exactly, my man should've had a crew if he wanted to pull this off. Shares could've been bought under someone else's name, multiple names even. Doctor up some websites and forum posts to make it look like the info was already out there. As soon as shares got sold, money would be transferred out of the jurisdiction and used to buy precious metals/real estate.


This guy didn't think at all, just wanted to see the money in his account. Basically crashed out for nothing.

 

[invalid]

I’d did the same shyt. Wouldn’t consider it insider. No one told him shyt. He had no legal duty to that company’s information.

Usually teams on deals like this have to disclose any and all (or the appearance of) conflict of interest which would include significant stock positions (whether the person on the team holds the position on their own or family members (usually just spouse or child)), board relationships (whether the person on the team (or a family member - usually a spouse or child) currently or previously held a seat on the board of the company being acquired), or, in general, have a relationship with the company, personal or familial, where the nature of that relationship includes fiduciary oversight and decision making.

These things have to be disclosed so that it doesn't appear that team members or their families, on either side of the deal, are able to materially benefit before or after, due to the nature of the deal itself or being privy to material non-public information about the deal.

Usually when conflict of interest like this are disclosed and it's investigated and proven true, the team member will have to recuse themselves from the team and the deal because they come into the deal with inherent bias or impaired judgement which elevates the risk of things like insider trading or, in general, going through with an inherently bad deal because someone's judgement on the team is impaired or has a bias, being able to materially benefit, so pushing through the bad deal anyway.

If the lady disclosed she nor anyone in her family (spouse or child) held no significant positions in the company before even getting on the deal, and now, after the deal is done, it's revealed that her spouse entered into and then exited a significant position in said company, she'd be done.

She absolutely did the right thing.

Just because a spouse didn't know or didn't have any "legal duty" to a company is neither here nor there. His spouse, who is on a deal like this, by way of his relationship to her, is required to disclose any and all of his material activity, with a company she is engaging with. Him not knowing what goes on behind the scenes with respect to the mechanisms to insure the transparency of a deal means absolutely nothing and I would implore you not to do the same because you will find yourself in jail.

 

[pimpineasy]

I’d did the same shyt. Wouldn’t consider it insider. No one told him shyt. He had no legal duty to that company’s information.

Casually admit to insider trading on a public internet forum brehs.