Read previewA Houston man has pleaded guilty to insider trading after he made $1.76 million in illegal profits after listening in on his wife's work calls as they worked from home.
AdvertisementThe regulator said that Loudon purchased 46,450 shares of TravelCenters stock without his wife's knowledge before the deal was announced.
It alleged that he "took advantage of his remote working conditions and his wife's trust to profit from information he knew was confidential."
He told her he did it because he didn't want her to work long hours anymore, said the SEC complaint.
The SEC noted that Loudon had not denied the allegations and had agreed to a partial judgment subject to court approval.
Persons:
—, Tyler Loudon, Alamdar, Hamdani, Loudon, scrutinizing, didn't
Organizations:
Service, BP, Business, Securities, Exchange Commission, SEC
Locations:
TravelCenters, Loudon