Man Rakes in Millions by Listening in on His Wife's Business Calls

In the home office, Tyler Loudon eavesdrops on his wife's BP business conversations and successfully speculates with stocks - yet love pays the price.

2/27/2024, 12:00 PM
Eulerpool News Feb 27, 2024, 12:00 PM

The work-from-home trend has led to some questionable decisions in the modern era. Tyler Loudon, the husband of a BP employee, used his position in his own home to benefit from his wife's important business calls and buy stocks. An action that had bitter consequences not just for love but also for his future.

As reported by the British news broadcaster BBC, Loudon has been charged with insider trading in the USA. The US Securities and Exchange Commission (SEC) alleges that Loudon deliberately eavesdropped on his wife's phone calls, a mergers and acquisitions manager at BP, to obtain confidential information. He then used this confidential information to purchase shares of the company TravelCenters of America.

This action not only allowed Loudon to profit from illegal gains amounting to $1.76 million but also led to serious consequences in his marriage. The securities regulator accuses him of exploiting his wife's trust and working conditions at her home office to improve his own financial situation.

The dramatic events unfold as BP announces the acquisition of TravelCenters of America. According to the stock market regulator, Loudon already bought 46,450 shares of TravelCenters last February without his wife's knowledge. When the deal was finally made public, TravelCenters' stock price jumped by 71 percent. At that point, Loudon sold all his shares at a high profit.

As the investigations of the stock exchange supervisory authority reveal, Loudon's wife and he closely collaborated during the negotiations between BP and TravelCenters. Due to the close physical proximity in the home office, they witnessed the work-related conversations and video conferences of the respective partner. Even when the couple stayed in a small Airbnb in Rome, the wife continued to work on the deal.

The consequences for the couple's marriage were catastrophic. When the Financial Industry Regulatory Authority started asking questions, Loudon confessed to his wife that he had bought shares in TravelCenters. His reasoning: He wanted to earn enough money so she wouldn't have to work anymore. His shocked wife then reported the trade to her supervisor at BP. Although no evidence of her complicity was found, she was fired by BP. In response, she moved out of the marital home and cut off all contact with her husband. In June, she filed for divorce.

Loudon has since admitted his guilt and has agreed to pay a fine. However, he must also face possible criminal charges that could result in imprisonment. Tyler Loudon is deprived not only of his future marriage but also of his reputation as a serious investor due to his reckless action. A frightening and tragic story about the consequences of insider trading from a home office.

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