The Press Stories
Former BP executive Emily Kraus’ husband, Tyler Loudon, has admitted to making nearly $1.8 million through insider trading by eavesdropping on her phone calls while they worked remotely. Loudon pleaded guilty to securities fraud and faces up to five years in federal prison, as well as a possible fine of up to $250,000.
The scandal came to light after Kraus reported Loudon’s illegal activities to her supervisor at BP and subsequently filed for divorce. Loudon had acquired 46,450 shares of TravelCenters of America without Kraus’ knowledge and sold them for a profit of $1.76 million after the BP acquisition was announced.
The couple was working remotely together in an Airbnb in Rome when the insider trading took place. Following the revelation, Kraus was fired from BP and the company has declined to comment on the matter.
Loudon’s lawyer, Peter Zeidenberg, stated that his client takes full responsibility for his actions. The case serves as a stark reminder of the consequences of insider trading and the importance of ethical conduct in the workplace. This story continues to develop as Loudon awaits sentencing and Kraus navigates the aftermath of the scandal. Stay tuned for further updates on this compelling saga.
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