A former BP executive's husband has pleaded guilty to securities fraud after allegedly eavesdropping on his wife's work conversations, federal officials have revealed. Tyler Loudon, 42, of Houston, reportedly made $1.7 million in illegal profits through the purchase and sale of stock shares, as per a news release from the U.S. Attorney's Office of the Southern District of Texas.
Loudon's wife, an associate manager in mergers and acquisitions at BP, was involved in the company's acquisition deal with TravelCenters of America Inc., a truck stop and travel center company based in Ohio, according to the U.S. Securities and Exchange Commission (SEC). The SEC claims that Loudon overheard confidential work-related discussions about the merger while his wife was working remotely.
