Connect with us

Business

My MBA Journey: How I Made $1.8M on BP Shares Working From Home

Published

on

Last Updated on February 25, 2024 by Robert C. Hoopes

Houston Man Pleads Guilty to Insider Trading, Making $1.76 Million in Illegal Profits

In a shocking turn of events, 42-year-old Tyler Loudon from Houston has pleaded guilty to insider trading after making a whopping $1.76 million in illegal profits. Loudon admitted to purchasing thousands of shares in TravelCenters of America just before its acquisition by BP.

The Securities and Exchange Commission (SEC) alleges that Loudon overheard conversations about the planned takeover through his wife, who worked for BP at the time. Despite purchasing the shares without his wife’s knowledge, Loudon confessed to her about the insider trading after learning that BP was investigating the matter.

As a result, Loudon’s wife was fired from BP despite no evidence of her involvement in the illegal scheme. Following the confession, she moved out and initiated divorce proceedings against Loudon.

In light of the allegations, Loudon has not denied his involvement and has agreed to a partial judgment with penalties. The case serves as a stark reminder of the serious consequences of insider trading and the ways in which it can impact not only the individuals involved but also their families and relationships.

Stay tuned to My MBA Career for more updates on this ongoing case and other news related to white-collar crimes in the business world.

Stephen is an experienced writer and journalist with a focus on MBA news and MBA jobs news. With a keen eye for detail and a passion for business and education, he has established himself as a leading voice in the MBA community. Stephen's writing on MBA news and MBA jobs news can be found in a variety of publications, including online news sources and job boards. His work covers a wide range of topics, from industry trends and emerging technologies to job market statistics and career development strategies. He is known for his insightful commentary and his ability to distill complex information into clear and concise language.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *