Overview

• Tyler Loudon of Houston pleads guilty to insider trading, making $1.76 million by eavesdropping on his BP executive wife's work calls.
• Loudon bought shares in TravelCenters of America Inc. based on confidential BP acquisition plans he overheard, leading to nearly a 71% stock price surge upon public announcement.
• Despite no evidence of her involvement, Loudon's wife was fired by BP after he confessed to the trades, which she reported to her employer.
• Loudon agreed to forfeit his illegal profits and faces up to five years in prison and a $250,000 fine; his wife initiated divorce proceedings.
• The case highlights risks of insider trading in work-from-home settings, prompting discussions on the need for secure WFH practices.