Karena Makhortov reports through the Guardian: US regulators have accused a man of making $1.8 million by trading on confidential information his wife overheard during a remote phone call, potentially heightening the debate against working from home. The Securities and Exchange Commission (SEC) says Tyler Loudon “exploited remote working conditions” and profited from personal information related to oil company BP's planned acquisition of Ohio-based travel centers and trucks. announced that he had been charged with insider trading. Business ceased last year.
The SEC alleges that Mr. Loudon, who is based in Houston, Texas, made several remote calls with his wife, a mergers and acquisitions manager at BP, who were working on a planned transaction from their home office 20 feet (6 meters) away. He claims that he was eavesdropping. According to regulators, Mr. Loudon bought up more than 46,000 shares of Travel Centers of America stock without telling his wife, weeks before the deal was announced on February 16, 2023. It is said that he was After the acquisition, Travel Centers' stock price soared nearly 71%. It was announced. Loudon then sold all of his shares for a profit of $1.8 million.
Loudon eventually confessed to his wife, claiming that he bought the stock because he wanted to make enough money so that his wife no longer had to work long hours. She reported her husband's transactions to her boss at BP, but then her boss fired her. She eventually moved out of the marital home and filed for divorce.