Man accused of insider trading by listening in on wife’s remote work calls

Texas man made almost €1.85m by illegally trading on wife’s conversations with her BP colleagues over deal to buy company

His wife, then a BP mergers and acquisitions manager who was working on the deal, was unaware of his trading, the regulator said.

A Texas man made almost $2m (€1.85m) by illegally trading on his wife’s conversations with her BP colleagues, according to the US Securities and Exchange Commission in its latest case about couples eavesdropping while working from home.

For months, Tyler Loudon bought shares in TravelCenters of America Inc, the SEC said on Thursday. He liquidated his brokerage and retirement accounts and in February 2023, when BP announced it was buying TravelCenters of America at a 74% premium, Loudon made a $1.76m (€1.63m) profit.