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Press Release

Insider trading – Husband illegally profits $1.7M after using wife’s private company information

For Immediate Release
U.S. Attorney's Office, Southern District of Texas

HOUSTON – A 42-year-old Houston man has pleaded guilty to securities fraud, announced U.S. Attorney Alamdar S. Hamdani.

Tyler Loudon made $1.7 million in illegal profits from the purchase and sale of stock market shares.

Loudon’s wife was an associate manager in mergers and acquisitions at an internationally-based oil and gas company. Loudon learned that her company was planning to purchase a travel center operator business.

Unbeknownst to his spouse, Loudon used the non-public information about the expected acquisition to purchase 46,450 shares ahead of the public notice.

After the announcement, the travel center operator’s stock price increased. Loudon then sold his shares for a substantial profit.

As part of his plea agreement, Loudon agreed to forfeit the $1.7 million in illegal proceeds.

U.S. District Judge Sim Lake accepted the plea and has set sentencing for May 17. At that time, Loudon faces up to five years in federal prison and a possible $250,000 maximum fine.

The FBI conducted the investigation with the assistance of the Securities and Exchange Commission and the Financial Industry Regulatory Authority. Assistant U.S. Attorney Karen M. Lansden is prosecuting the case. 

Updated February 22, 2024

Securities, Commodities, & Investment Fraud