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.
  • Smeagol666@lemm.eeEnglish
    2·
    10 months ago

    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.