Former BP exec's ex-husband gets prison for insider trading after eavesdropping on her calls
Publishing timestamp: 2024-05-22 13:34:45
Summary
Tyler Loudon sentenced to two years in prison for securities fraud related to insider trading on TravelCenters of America shares after hearing his wife discuss BP's planned purchase of the company. He agreed to forfeit over $1.7 million in profit. His lawyer argued for a lighter sentence due to personal circumstances. Loudon's actions led to his wife losing her job and their divorce. Insider trading cases involving spouses are typically handled civilly, but Loudon faces a separate civil lawsuit by the SEC.
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Keywords: bp plc, weather, oil and gas, markets, breaking news: markets, houston, breaking news: politics, collusion, business, business news, crime, laws, energy, politics,