A Texas man made almost $2 million by illegally trading on his wife's conversations with her BP Plc colleagues, according to the US Securities and Exchange Commission in its latest case about couples eavesdropping while working from home.
For months, Tyler Loudon bought shares in TravelCenters of America Inc., the SEC said on Thursday. He liquidated his brokerage and retirement accounts and in February 2023, when BP announced it was buying TravelCenters of America at a 74% premium, Loudon made a $1.76 million profit. His wife, then a BP mergers and acquisitions manager who was working on the deal, was unaware of his trading, the regulator said.
According to the SEC, Loudon's eavesdropping extended abroad. While traveling in Rome, the SEC said Loudon sat nearby his wife while she worked on the TravelCenters deal from a small rented apartment.
For months, Tyler Loudon bought shares in TravelCenters of America Inc., the SEC said on Thursday. He liquidated his brokerage and retirement accounts and in February 2023, when BP announced it was buying TravelCenters of America at a 74% premium, Loudon made a $1.76 million profit. His wife, then a BP mergers and acquisitions manager who was working on the deal, was unaware of his trading, the regulator said.
According to the SEC, Loudon's eavesdropping extended abroad. While traveling in Rome, the SEC said Loudon sat nearby his wife while she worked on the TravelCenters deal from a small rented apartment.
