Texan Tyler Loudon earned 1.76 million US dollars (approx. 1.63 million euros) in the stock market in a few months. And with only about 666,000 euros of initial capital. As the BBC reports, the profits were so egregiously high and the strategy used so egregiously sensible that the Securities and Exchange Commission took up the case and found prohibited insider trading.
Thus, Loudon had purchased 46,650 shares of the oil company BP just before announcing the acquisition of the rest stop provider TravelCenters of America. As a result, the stock price soared 71 percent in a short period of time and Loudon made astronomical profits.
However, research has shown that Loudon's good timing was no coincidence. His wife orchestrated his acquisition as a senior BP employee. However, using that internal company knowledge for personal gain in the stock market is against US law.
The wife claims to have known nothing about the trade and files for divorce.
However, investigators could not prove that Loudon's wife had made any mistakes, Bild reports. As soon as the suspected insider trading became known, she filed for divorce from her husband.
Loudon's wife says she knew nothing about insider trading. She was as surprised as the researchers themselves.
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