The husband of a BP employee has pleaded guilty to insider trading for illegal share purchases he made after overhearing his wife talking about a deal while working from home.
Tyler Loudon admitted to making more than $1.7mn in illegal profits from buying up thousands of shares in TravelCenters of America ahead of its $1.3bn acquisition by BP in February 2023, the US Attorney’s office in Houston said.
Sentencing has been set for May 17, when Loudon faces up to five years in prison and a fine of up to $250,000.
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