388
submitted 2 years ago by MicroWave@lemmy.world to c/news@lemmy.world

KEY POINTS

  • Tyler Loudon, 41, pleaded guilty to insider trading charges, claiming that he profited $1.76 million based on nonpublic knowledge of BP’s acquisition of TravelCenters of America.
  • Loudon, the husband of a former BP merger and acquisitions manager, learned of the acquisition in 2022 after secretly eavesdropping on his wife’s work calls.
  • Loudon has been ordered to surrender his $1.76 million of illegal profits and pay a separate fine of the same amount.
all 16 comments
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[-] agitatedpotato@lemmy.world 85 points 2 years ago

'Hey you're not a lawmaker you can't do that!'

[-] Stoney_Logica1@lemmy.world 36 points 2 years ago* (last edited 2 years ago)

Sucks that she did the right thing and self-reported the situation to her supervisor after finding out about it from her husband and was still fired.

[-] kautau@lemmy.world 26 points 2 years ago

HR exists to protect the business, not the employee

[-] Stoney_Logica1@lemmy.world 5 points 2 years ago

Agreed. Might as well deny, deny, deny.

[-] Patches@sh.itjust.works 7 points 2 years ago

She could've done literally nothing and nobody would've cared. This happens everyday all over the world.

[-] Rookwood@lemmy.world 29 points 2 years ago

"secretly eavesdropping" Good story.

[-] Neato@ttrpg.network 23 points 2 years ago

Thanks for taking the fall, honey!

[-] frickineh@lemmy.world 47 points 2 years ago

I mean, she reported him and then divorced him, so it doesn't sound like she was on board.

[-] meco03211@lemmy.world 7 points 2 years ago

Could be trying to separate assets? Though I'm pretty sure wherever the assets were at the time of the crime is what matters, some people be stupid.

[-] BossDj@lemm.ee 5 points 2 years ago

And only after they found out people were getting investigated

[-] Suspiciousbrowsing@kbin.melroy.org 14 points 2 years ago

You would presume that the partner of a BP exec would have sufficient household income. Apparently not..

[-] rem26_art@kbin.social 11 points 2 years ago

"Honey, our third yacht ain't gonna pay for itself!"

[-] Luisp@lemmy.dbzer0.com 6 points 2 years ago

If you steal bp's stockholders wouldn't that make you an environmentalist and model citizen?

this post was submitted on 26 Feb 2024
388 points (99.5% liked)

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