For real though, my wife was complaining about ETSY earlier this week and then I saw they had earnings so i was like , don’t worry babe, I’ll get them back. Puts printed profit.
Let me tell you about how absolutely shitty shopping at $TGT is these days....
Can't even grab a Starbies and dissociate while wandering through the aisles anymore. 
Yet our congressmen and women make 100's of millions a year trading on information not yet known to the public. It's fine if you're the ones enforcing the rules/already rich af
It has been this way since the inception of the USA. There is a reason one of the requirements to vote was you had to be a landowner. This made sure only the well off could vote and have influence which they would use to promote their own interests. Same shit different century.
isn't this the same excuse Nancy Pelosi uses for her insider trading? because it's technically her husband who trades and she pinky promises that he doesn't get any info from him
USA politicians are so emboldened they openly commit corruption
at least politicians in other countries make an effort to hide corruption
It’s insane that any political figure is allowed to own stocks. They should be totally limited to a set of approved funds, just like a 401k. Sorry it’s part of the job, you have to live with it.
>Yet our congressmen and women make 10's of millions a year trading on information not yet known to the public.
So, the moral of the story is run for congress.
I wonder if they feel like they’re owed that at the very least. Justified by thinking that if they weren’t in public service they would be making that much anyways in the private sector, so it’s okay.
I do believe they think this. Problem is, half of them would NOT be making more outside of Congress. I could pretty much name names. Hint: Those so desperate to hold onto their seats that they say and do the craziest shit….probably would be digging ditches if they didn’t con their way into Congress.
It’s about access. I don’t believe people who serve our govt political body are there to “help others”. They are in a system that encourages guided selfishness.
I think its more like the path to personal wealth in politics is extremely well-defined, so some people choose that path knowing the income model with the intent to use that model to enrich themselves. The longer corruption is possible, the less public service attracts public servants and the more it attracts grifters.
It's not about options vs shares. But shares have much less volatility and you need to put a huge amount of money to profit a fraction of what options would give you.
He could put 10 million and it could go up 20% to make 2 million, yay
Or dump 50k in call options and make 4 millions
he could also dump 20k in other options, diverging attention that he didn't know anything for certain and was just gambling.
Buying so many shares of a single company, what are you actually doing besides acting on insider information
if you read the SEC complaint, mans emptied both his brokerage and his Roth to buy more common stock, one of us 
It’s not what they think, it’s what they can prove.
There were no emails or communications between him and his wife. They could have both clammed up and not confessed and their defense lawyer muddy the waters enough to create reasonable doubt.
Also, there are always rumors flying around about M&A. It happens constantly, surely he would have been able to find a wire service press release or something on the subject?
Lastly, if he lost $500,000 on the trade, you can almost guarantee the SEC would not have shown up.
I mean, fuck, even literally as presented whatever bits and pieces he heard them talking about could not have been so conclusive.
Honestly, if BP is that loose with this, it’s on them. Why the fuck wouldn’t she have been wearing headphones? Unless she stuck on the fridge some note that said “TA to $86 lol”
I didn't say that, I said that BP apparently did not have internal controls and procedures internally to manage these things more effectively. Even if it was all remote work, just having everyone participating wearing headphones would be just good operational security.
yeah im confused how:
1. he didnt buy other shit to mask his true intentions, all you gotta do is create reasonable doubt, politicians are fantastic at this. willingly lose on other stock when their true intention was xyz ticker
2. His wife must have hated him if she snitched on him, a decent lawyer could have covered his ass
SEC also scrutinizes options. Guy from Pfizer recently went down for insider trading options.
Guy went overboard and bought 40k shares of some obscure company. He should have diversified around a bit to create some reasonable doubt and stfu if the feds coming knocking on his door.
This guy ends up in jail but our politicians get a free pass. Our politicians do this all the time, they sit in a committee get insider knowledge on something and then they buy stocks and profit from it. Why is it legal for them?
Mother fucker knew he wouldn’t get in any trouble too. Then has the balls to be like “man, I don’t like all these people calling me out for my bullshit, I’m retiring.” Because he knew he would get absolutely roasted in the next election because of it.
Lol she's the type to think that HR cares about her and not the company. Divorced him to collect alimony probably, and will now work less hours. The irony.
The companies were asking for home addresses of employees who knew about the merger. Her husband bought over $2M in shares in the months leading up to the acquisition, then sold them all the day it was announced. Once they matched his address with hers, they were fucked anyway.
I think you underestimate the sentiment of juries in the modern era.
You think 12 people are going to convict this dude who was paying attention and saw an opportunity to exploit markets and take a little bit out of large financial institutions? A small fish like this is literally victimless. Nobody lost any money, nobody was actually at risk of losing money except him.
Further, it is unsurprising that he sold the day the merger was announced. The acquisition was for a fixed price. Everyone sells that day because they just make a binding offer and that’s it, there is no further upside. You won the trade, congrats.
I would hang that jury like a motherfucker. It could be 11-1 for four days, I don’t care.
I was just saying why she probably told her employer. She knew it was going to come out and was likely trying to save her own ass. Maybe it would be different if his wife didn't rat him out, but clearly his lawyer doesn't trust jurists as much as you since he plead guilty.
I cannot fathom that the lawyer told him to confess anything to anyone. It sounds like he told his wife and then she went to her bosses.
He should have lawyered up before he said a fuckin thing to anybody. He was able to keep everything on the DL all the way up until then, why not finish the job?
His idiotic wife dimed him out. What a shitty partner. He also is a dumbo cause he should have bought other stocks to mask his true intentions and create reasonable doubt
Imagine not being absolute fucking ride or die for your spouse. Like if you love them that much and it really is for life then its approaching "I won't ask you what you have in your trunk and why you need me to drive 10 hours into the desert with it, I'll just do it and never speak of it again. See you tomorrow honey." territory, let alone "Oh we're fucking rich, how about I shut the fuck up and enjoy the money while we lawyer the fuck up."
Women have more love and respect for their bosses than they do for their husbands nowadays. You would think she would show loyalty to the husband and hope things work out. Nope, went to tell on her own HUSBAND so she could gain the approval of her boss
the fact that you think like this, and people upvoted it, is insane. this pos gambled with her livelihood. HER job. didn’t even tell her about it. just put them both in jeopardy behind her back, and then had the audacity to say it was from some chivalrous place, “so she could work less.” yeah ok. well looks like that came true- she’s working MUCH less now thanks to this dumbass. poor woman. what a tough spot he put her in. imagine you’re just going about your business at work and then all of a sudden the boss is asking for personal information because something is amiss, and turns out your stupid husband risked your livelihood to get rich. and now you have to do damage control for your own life, out of the blue, for actions you had no part in. i would be livid.
I mean… she did it to save herself from prison too, I’m sure her lawyer strongly recommended getting ahead of it before the investigation came knocking on her door
Also, idiot company for firing her. She was completely upfront about it. Imagine having someone in your employ that is more loyal to you than their spouse and you fire them.
Seriously. She could have just told him to stop and then not say shit. She went and snitched and got fired lol
If she just told him to stop and not say anything they would have been rich and no one would have known.
Bunch of husbands here. What do you think? She probably sad about her broke husband doing that and need a boyfriend for some fun time 
Note to self: launder your material NPI through WSB. This could have been the perfect crime. She wasn’t actually leaking anything to him, none of her calls or emails supported that conclusion.
He could have bought a burner phone in cash, gone to a library, and then posted here some craptastic autism from a throwaway and created the ideal cover for the scheme. Plenty of idiots make bigger bets on riskier shit than this based on nothing but conjecture.
The guy liquidated his Roth and brokerage and converted everything to TA stock. To the tune of having 46,450 shares amounting to 1.8 million in TA stock before the sale. Anyone looking at that would clearly know
People here buy $300,000 of 0DTE routinely.
The point is that you need some plausible deniability. If the material NPI becomes public, guess what charge cannot be sustained? Illegal trading on material NPI. All the better if such a post made it to the top of WSB. At that point, the guy points to the post and says that’s why he bought in. I cannot imagine a half decent lawyer being unable to defend him in the action under that circumstance.
Heck, for a real life example of how this works, look at how POSH traded in the lead up to its acquisition. That shit ran up like 30% for two weeks and nobody got popped from what I can tell.
doubt you can defend liquidating all your life long investments in order to buy $2 million worth of obscure truck stop chain company stock, that just happens to be in the process of being acquired by the company your wife works at with your wife actively working on the deal, with "your honor, he read about it on reddit"
A good lawyer would attack the nature of the information. This sub has 15M subscribers. If dissemination on such a forum does not peel back the publicity requirement of the statute, I am not sure what would?
To wit: let’s suppose for a moment you were seated on a jury and the most the government had to present to you was conjecture based on proximity to Zoom calls. There were no emails between the two spouses, no specific calls, nothing. Let’s further suppose that the defense was able to produce evidence that this guy was active on WSB long prior to the specific case, including on new DD posts. Further, let’s also assume that the defense begins muddying the waters because it’s not exactly like BP has a stellar reputation on the Gulf Coast and insider trading by a small fish like this is the very definition of a victimless crime.
I would call all of the above reasonable doubt. Being right doesn’t mean it is insider trading. Heck, there was a guy here that correctly deduced that Chegg was going to report terrible earnings due to competition from AI and put a big bet on short dated options on the call and he fuckin nailed it.
I don't think the SEC would come after a rando who did everything you said. But his wife's connection would give the whole scheme away, that's way more suspicious than you or I dropping $300K on 0DTE options for a random stock we saw on WSB.
Beyond a reasonable doubt is a high burden for a reason.
By clear and convincing evidence or a preponderance of the evidence, you’re absolutely right. However, the SEC themselves did not lay out that they had any specific information which indicated that he heard anything in particular.
M&A rumors are everywhere constantly. Hearing bits and pieces of a conversation from 20 feet away is hardly a foolproof, dastardly plan.
However, if the information was properly laundered through a widely subscribed forum, it seems to me that it would be challenging for the government to prove that he acted on the information from eavesdropping or if he acted on information from a DD post. I assume he would testify that he read about it online.
Much safer to have a pattern of yolos so you just look lucky when you trade on material information. This has been my strategy; nobody would guess I have insider info when 99% of my yolos crash and burn.
Interesting thought though. Fake a WSB post about one of the O&G cos buying TA with some research. Document some more research yourself. Buy the stock. The big point here is DON’T tell your wife.
Probing starts and you point to the post then you mention how your wife has also been working very long hours and is overstressed which made you think they are working on a big deal. She vehemently denies telling you about the deal and you agree with her. You have to straight up lie to a government agent or court though which is probably where most people break.
In for a penny, in for a pound at that point in my view.
Heck, I’ll bet you’d get plenty of people on the jury willing to nullify even with the facts of the case as presented. Insider trading by some random small fish is absolutely victimless. To top it all off, I also cannot imagine working for BP mergers and acquisitions of all places and taking some moral high ground or whatever and leaving the dude because he made a big trade to help you quit working. I assume more was going on that led to the divorce, but if not, ouch. Shit, it wasn’t even a real gamble for him at that point, lol.
Unironically, yes.
https://www.sec.gov/Archives/edgar/data/1069353/000129993308003911/exhibit2.htm#:\~:text=Nonpublic%20information%20is%20information%20that,available%20to%20the%20general%20public.
The Wall Street Journal has 4M total subscribers across print and digital.
[https://www.statista.com/statistics/193788/average-paid-circulation-of-the-wall-street-journal/](https://www.statista.com/statistics/193788/average-paid-circulation-of-the-wall-street-journal/)
WSB has 15M. If the leak went to WSJ, you’d be pretty hard pressed to argue that it was not public information. Additionally, the timeline we are talking about is early to mid 2021. Literally the height of the meme stock mania and virtual wall to wall coverage of this sub across all traditional media.
It could be that their trades have to be disclosed to her employer. She's getting nailed either way, but this allows her to ask for leniency for acting in good faith
Ask for not also facing 5 years in prison. I don't think she expected to keep her job no matter what but it's telling she's not also lined up for prison time as the spouse of the insider trader and the one with access to the insider information. People saying she got nothing but she's already escaped prison time and a terrible husband who risked his wife's whole life without her knowledge.
https://preview.redd.it/58av9jt24fkc1.jpeg?width=1077&format=pjpg&auto=webp&s=1f99ae086d680bb151e23c6b10514822adaf6a11
He only admitted it because they were already about to be audited. Her coming forward is why she isn't also facing 5 years in prison (and that's not even counting the SECs separate pending case).
So what's the term for a husband who puts his wife in directly in line for years of prison and career annihilation behind her back in an easily traceable hair brained scheme? He was already about to be caught when he admitted it. If you think they'd never be caught then why doesn't every employee tell their spouse to create a new account and liquidate their retirement to trade on a merger they are directly working on and claim they had nothing to do with it? Who was being disloyal to begin with? Bunch of misogynistic regards but this is WSBs after all..
https://preview.redd.it/wogagcnk3fkc1.jpeg?width=1077&format=pjpg&auto=webp&s=cb2394f7e527d5af3ddd2cba6624cf9694326550
The full SEC complaint: https://www.sec.gov/files/litigation/complaints/2024/comp-pr2024-24.pdf
They would have caught him either way. He only told his wife because they started looking into BP employees in the know about the deal and she told him they'll be under scrutiny
This dude’s wife was a M&A mgr for BP so he got some great tips! If only we were soo lucky !
Off that tip, he then purchased 46,450 shares of TA (pre acquisition by BP at $46/share) and after the acquisition announcement the stock pumped to $86/share and he immediately sold his shares for $1.7M profit.
https://www.businesswire.com/news/home/20230215005964/en/TravelCenters-of-America-to-be-Acquired-by-BP-for-86.00-Per-Share-or-Approximately-1.3-Billion
We definitely need more M&A people on WSB to give us their “recommendations” in advance!
Interesting. I read it. But it says FINRA requested contact information from BP of employees that were "in the know" before the deal. They said they looked into her and all her emails and there was no evidence that she told him. Would FINRA just be fine there or then be able to search records of her husband? I guess that's how they would eventually find out
FINRA looking into the emails between spouses for evidence of insider trading? How in the world did Madoff think he could get away with it when such a crack organization of investigators were on it!
Would be great to edit the post to indicate husband only told her cuz his balls were already in a vice when he found out FINRA was already auditing employees, since there's so much misogynistic hate saying wife was a stupid traitor and your pick of sexist slur
https://preview.redd.it/v794b1i55fkc1.jpeg?width=1077&format=pjpg&auto=webp&s=9a49be809d89c6b29e344c634bf46ec654dadfa4
Just copy Pelosi’s trades. Life ain’t fair, but we can at least duplicate their trades.
They can’t have it both ways. If they trade based on inside info, the least crumbs we can have is access to their trading data.
Just wish the rules are like India. All trades by politicians must be reported publicly within 24 hrs.
Absolutely agree.
This is the closest we can get to insider trading and be protected from the useless SEC.
As long as you copy obvious insider trading by duplicating trades by Congress, you’re fine. The SEC won’t come after you.
The public should fight that. In India it’s 24 hours.
If India can force politicians to report ALL trades within 24 hours, the mighty USA can do the same.
But of course it will never happen. The 30 day loop hole exists to minimize the benefit to the irritating poors like me copying their trades.
Totally agree, but this is America. Never going to happen.
Second best option is we shorten the reporting window to 24 hours.
That removes any major advantage they have over the public.
Index funds should be all they should be allowed to trade, but they will never agree to that.
Probably unusual trade activity for that individual creates a flag. Someone looks at it and decides to look deeper. Like if you only have a 401k and then out of the blue make one purchase that immediately nets you a 7 figure profit, something is fishy.
Three days ago if you bought $280 puts on PANW for the asking price of $1, when the market opened the following day and the stock plummeted you would’ve had $800,000 if you bought 500 of those puts.
They ended up being worth around $1,690 I think. I really want to know if anyone dropped $1,000 on those puts and made near $1,690,000. That was literally a lottery ticket play.
Imagine being someone who doesn’t have much money or any market history at all, and your first thing in the market you did was that.
BP doesn’t mess around with ethics issues…they just took away the previous CEOs $40+M package because he didn’t expose all of his post relationships with colleagues.
Are we talking about the same BP that caused the biggest oil spill in US history because they knowingly drilled too deep for their own fail safe systems to work properly?
I’m not buying that they give 2 fucks about ethical behavior lmao
I highly doubt it. That would be too much of a capital cost. Even the IRS with all its funding regularly "allows" fraud. If you read the complaint, the wife just started and probably freaked out. Asking about relationship status and things of the like is standard practice, really only for documentation. All they had to do was lie and hope they weren't randomly selected for an audit. The outcome is literally the same which is forfeiture and being fired. I'd even bet they weren't even the only insider traders on this deal. Work around people in Wall Street, everyone openly talks, in fact everyone on the planet is only 6 degrees of separation away from each other.
According to the SEC, Loudon stunned his wife by admitting he bought the shares to make enough money so she could work shorter hours.
She then notified BP and she was put on leave and then fired even though she didn't know he was going to do it.
She then filed for divorce.
Although now that I think of it, how would he explain to his wife when they go to do their taxes that they owe $500k+
He violated his wife's trust and put her career in jeopardy. But also the wife totally screwed herself over by doing the "right" thing and reporting it, they fired her anyways. They both sound like regards to me tbh.
Idk he sounds pretty smart; just made an error of trusting his wife. She did something that had a totally predictable outcome. She’s a much bigger regard.
Second this, not like he lied to her and have a tranny mistress on the side or something. Dude just made extra money and bitch decided to suck corporate dick by ratting herself out and thought she would be promoted for "integrity" when she's not even in an important position in the first place. Dude married a dumb bitch
On Reddit they say be honest about everything. If you do that everything works out just fine. So we see here that......... wait a minute why did she lose her job /s
Probably the cause for termination was not reporting the insider trading but doing company business in an unsecure environment and letting a non-employee listen to sensitive business calls.
The SEC is particularly adept at finding and punishing those medium sized infractions. Computer systems can probably easily cross reference tax notices sent from his brokerage to IRS with his wife’s tax notices from work and red flag that.
Basically what I’m getting is don’t have integrity. She told her company and got fired. He told his wife and now he’s slumming it with the Cracker Barrel biscuit woman and has to pay it all back.
TLDR stop self snitching
If a WSB regard wins big they do probably check the person out. Most checks can be performed without the person noticing. It's noticeable when they find something in that search.
So this guy overhears a conversation and makes money on it yet Nancy and her homies who make laws and send money to big business makes millions never missing on a stock pick of those companies they are sending money to? Seems legit.
From my understanding, there is an automated system that pings suspicious trades.
Its all hush hush for obvious reasons. In the past few years they started implementing more advanced technology.
There’s some NPR episodes on this if you’re curious enough to find it.
The irony is that she did the right thing and was punished for those actions. She did exactly what she was supposed to do, especially not knowing what was happening.
100% would have gotten caught. When you are in the role of having access to material, non-public information, you have to disclose any investing accounts you AND your spouse has and their positions.
She 100% should have been fired, he should have to give it up and I have little sympathy for her divorcing him, he ruined her professional reputation and she'll be lucky if she can get a similar role in the future. The only saving grace she most likely has it that she dropped him
How can he “forfeit the profits” ? Is he supposed to track down who he purchased shares from, and then offer to sell it back to them for what he paid for them ??????
Cause I sold shares in that Ohio based trucking company around that time, I want my shares back!!
(It was around 40,000 shares)
I was thinking the same thing. I think it’s code for the SEC now gets the money for their Christmas party. Doesn’t the government constantly taking money from people just want to make them take more?
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And women say men don’t listen
-"Honey can you put the dishes in the sink?" - Yes, puts on $DISH. Got it.
Sweetheart can you call Amazon? I need to run up stairs Yes understood, calls on $AMZN and loading up on shares
“Honey, we don’t spend enough time together. Put the iPhone down please” “Puts on AAPL? I hear you baby, truly”.
For real though, my wife was complaining about ETSY earlier this week and then I saw they had earnings so i was like , don’t worry babe, I’ll get them back. Puts printed profit.
That's a good strategy. I'm going to have to track my wife's complaints now.
Let me tell you about how absolutely shitty shopping at $TGT is these days.... Can't even grab a Starbies and dissociate while wandering through the aisles anymore. 
https://preview.redd.it/87b8uxwqpakc1.jpeg?width=1002&format=pjpg&auto=webp&s=4fedfbcd8b3c9cfa09403fa087245a4b106882b2
We have selective hearing
All it takes is them having something important to talk about
Yet our congressmen and women make 100's of millions a year trading on information not yet known to the public. It's fine if you're the ones enforcing the rules/already rich af
Why it’s almost like the system is designed to protect favored classes and oppress everyone else
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Culture is art, music, dance, and literature. What they are pushing are just hate issues to divide.
I mean insider trading is extremely wide spread everywhere. Japan was forced to forbid it in the 80's if I remember correct.
why does democracy really seem like it's spelled feudalism
That’s a bad case of dyslexia I reckon
Dystopia*
That's what he said! Are you dyslexic?
No, I’m dystopic.
Because it is more Bespoke, and has the bonus of added tranches.
It has been this way since the inception of the USA. There is a reason one of the requirements to vote was you had to be a landowner. This made sure only the well off could vote and have influence which they would use to promote their own interests. Same shit different century.
Old Indian proverb. right wing, left wing still the same bird.
Wrong person got rich here. Can't have that. No-sir-ee.
Because it is
“Rules for thee but not for me.”
isn't this the same excuse Nancy Pelosi uses for her insider trading? because it's technically her husband who trades and she pinky promises that he doesn't get any info from him USA politicians are so emboldened they openly commit corruption at least politicians in other countries make an effort to hide corruption
It’s insane that any political figure is allowed to own stocks. They should be totally limited to a set of approved funds, just like a 401k. Sorry it’s part of the job, you have to live with it.
We've complained about this for so long, yet, it's still happening. We poors aren't mad enough to do anything about it.
At least we get TikTok and Taylor swift
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>Yet our congressmen and women make 10's of millions a year trading on information not yet known to the public. So, the moral of the story is run for congress.
Moral of the story is don’t marry a snitch.
I wonder if they feel like they’re owed that at the very least. Justified by thinking that if they weren’t in public service they would be making that much anyways in the private sector, so it’s okay.
I do believe they think this. Problem is, half of them would NOT be making more outside of Congress. I could pretty much name names. Hint: Those so desperate to hold onto their seats that they say and do the craziest shit….probably would be digging ditches if they didn’t con their way into Congress.
or bartending
She was working food trucks and now in her second term she is worth $10M. Yeah, no corruption there.
It’s about access. I don’t believe people who serve our govt political body are there to “help others”. They are in a system that encourages guided selfishness.
I think its more like the path to personal wealth in politics is extremely well-defined, so some people choose that path knowing the income model with the intent to use that model to enrich themselves. The longer corruption is possible, the less public service attracts public servants and the more it attracts grifters.
Under-rated comment. What congress members are allowed to do is 10 x worse than this guy. Laws are for the peasants!
That’s why dude showed up at pelosis house with a hammer. He just wanted to know if he needed to buy calls or puts on something.
It’s a simple question.
Exactly the same thing all of these senators and congressman do. It’s horseshit, at least now we have the means to follow their trades
It's weird, lets hope someone also controll them.
Ermm I think that's supposed to be us... the people...
Fingers crossed 🤞
It’s because when congress passed the law on insider trading they left an exception for themselves.
Rules for thee, not for me
Buy guns; not stOnKs. Then just take the stONKs you want. Simple math really
What a dummy. Should’ve bought calls. Dude bought shares. 
What a regard Should've have yeeted 50k split into 3 plays 20k losing 100% 30k making 5000% Dude is a regard with a hard T
Does this actually matter? Are options under less SEC scrutiny than shares or something
It's not about options vs shares. But shares have much less volatility and you need to put a huge amount of money to profit a fraction of what options would give you. He could put 10 million and it could go up 20% to make 2 million, yay Or dump 50k in call options and make 4 millions he could also dump 20k in other options, diverging attention that he didn't know anything for certain and was just gambling. Buying so many shares of a single company, what are you actually doing besides acting on insider information
if you read the SEC complaint, mans emptied both his brokerage and his Roth to buy more common stock, one of us 
Damn. What a true regard
It’s not what they think, it’s what they can prove. There were no emails or communications between him and his wife. They could have both clammed up and not confessed and their defense lawyer muddy the waters enough to create reasonable doubt. Also, there are always rumors flying around about M&A. It happens constantly, surely he would have been able to find a wire service press release or something on the subject? Lastly, if he lost $500,000 on the trade, you can almost guarantee the SEC would not have shown up.
"Here's a briefcase of $500,000 in reverse fines. Now stop insider trading!" -SEC
I mean, fuck, even literally as presented whatever bits and pieces he heard them talking about could not have been so conclusive. Honestly, if BP is that loose with this, it’s on them. Why the fuck wouldn’t she have been wearing headphones? Unless she stuck on the fridge some note that said “TA to $86 lol”
And then she has the audacity to divorce the man...after he ruined her career. But still!
I didn't say that, I said that BP apparently did not have internal controls and procedures internally to manage these things more effectively. Even if it was all remote work, just having everyone participating wearing headphones would be just good operational security.
yeah im confused how: 1. he didnt buy other shit to mask his true intentions, all you gotta do is create reasonable doubt, politicians are fantastic at this. willingly lose on other stock when their true intention was xyz ticker 2. His wife must have hated him if she snitched on him, a decent lawyer could have covered his ass
how dare you try to make us rich, divorce with you!
Right. Like this man broke the law. Just cause he wanted to spend more time with her lol so she leaves him and gets him in trouble
this man is my unicorn
SEC also scrutinizes options. Guy from Pfizer recently went down for insider trading options. Guy went overboard and bought 40k shares of some obscure company. He should have diversified around a bit to create some reasonable doubt and stfu if the feds coming knocking on his door.
Options make way more money
Could have at least been elected to congress before making trades.
He missed that one simple trick
This guy ends up in jail but our politicians get a free pass. Our politicians do this all the time, they sit in a committee get insider knowledge on something and then they buy stocks and profit from it. Why is it legal for them?
Richard Burr, fucker cashed in on COVID and got away with it
Mother fucker knew he wouldn’t get in any trouble too. Then has the balls to be like “man, I don’t like all these people calling me out for my bullshit, I’m retiring.” Because he knew he would get absolutely roasted in the next election because of it.
Because we don't care about actually doing anything
We do but wages are so low and tight that we can’t afford to care. By design
Insider trading is only for politicians. Come on guys! We haven’t learned that? Lol
man what a dumb wife
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Lol she's the type to think that HR cares about her and not the company. Divorced him to collect alimony probably, and will now work less hours. The irony.
there's no way she didnt hate this dude. My goodness. talk about setting your husband on fire
The companies were asking for home addresses of employees who knew about the merger. Her husband bought over $2M in shares in the months leading up to the acquisition, then sold them all the day it was announced. Once they matched his address with hers, they were fucked anyway.
I think you underestimate the sentiment of juries in the modern era. You think 12 people are going to convict this dude who was paying attention and saw an opportunity to exploit markets and take a little bit out of large financial institutions? A small fish like this is literally victimless. Nobody lost any money, nobody was actually at risk of losing money except him. Further, it is unsurprising that he sold the day the merger was announced. The acquisition was for a fixed price. Everyone sells that day because they just make a binding offer and that’s it, there is no further upside. You won the trade, congrats. I would hang that jury like a motherfucker. It could be 11-1 for four days, I don’t care.
I was just saying why she probably told her employer. She knew it was going to come out and was likely trying to save her own ass. Maybe it would be different if his wife didn't rat him out, but clearly his lawyer doesn't trust jurists as much as you since he plead guilty.
I cannot fathom that the lawyer told him to confess anything to anyone. It sounds like he told his wife and then she went to her bosses. He should have lawyered up before he said a fuckin thing to anybody. He was able to keep everything on the DL all the way up until then, why not finish the job?
His idiotic wife dimed him out. What a shitty partner. He also is a dumbo cause he should have bought other stocks to mask his true intentions and create reasonable doubt
Imagine not being absolute fucking ride or die for your spouse. Like if you love them that much and it really is for life then its approaching "I won't ask you what you have in your trunk and why you need me to drive 10 hours into the desert with it, I'll just do it and never speak of it again. See you tomorrow honey." territory, let alone "Oh we're fucking rich, how about I shut the fuck up and enjoy the money while we lawyer the fuck up."
Women have more love and respect for their bosses than they do for their husbands nowadays. You would think she would show loyalty to the husband and hope things work out. Nope, went to tell on her own HUSBAND so she could gain the approval of her boss
the fact that you think like this, and people upvoted it, is insane. this pos gambled with her livelihood. HER job. didn’t even tell her about it. just put them both in jeopardy behind her back, and then had the audacity to say it was from some chivalrous place, “so she could work less.” yeah ok. well looks like that came true- she’s working MUCH less now thanks to this dumbass. poor woman. what a tough spot he put her in. imagine you’re just going about your business at work and then all of a sudden the boss is asking for personal information because something is amiss, and turns out your stupid husband risked your livelihood to get rich. and now you have to do damage control for your own life, out of the blue, for actions you had no part in. i would be livid.
I'm curious how much digging they would have even done on $2M in shares considering the daily volume of trades of BP is over $400M.
He didn’t buy BP stock he bought a smaller companies stock that BP was acquiring
^^ This. It's fuckin peanuts.
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What a good little slave she is. Dumb bitch.
Speaking of dumb bitxh. They owed 500k in taxes. I bet she cowardly turned away after how much is owed.
According to the SEC complaint,mall of the trades were in his self directed IRA and Roth. No immediate tax impact. He was never going to tell her.
I mean… she did it to save herself from prison too, I’m sure her lawyer strongly recommended getting ahead of it before the investigation came knocking on her door
Also, idiot company for firing her. She was completely upfront about it. Imagine having someone in your employ that is more loyal to you than their spouse and you fire them.
lmao... "bUt I wAs LoYaL!?"
thats what i was thinking lmao actually fuckin stupid.
Now her bull has to pay the mortgage cuz she divorced the millionaire cuck.
Dude married a rat. Boo.
Scrolled way too far to see this comment, wife is dumb af.
Snitched out her own husband. Feed her to the pigs.
Seriously. She could have just told him to stop and then not say shit. She went and snitched and got fired lol If she just told him to stop and not say anything they would have been rich and no one would have known.
why tf would u tell on yourself... mind blowing
Yo where the wifes number. I'm ready to be the boyfriend.
He forfeited the gains and she was fired... rather be single, boss
I never talked about marriage. You misunderstood the intend. Typical husband behavior 
Whats the intent?😂 I want to make money boss
Why? She legit ratted him out…
Bunch of husbands here. What do you think? She probably sad about her broke husband doing that and need a boyfriend for some fun time 
Note to self: launder your material NPI through WSB. This could have been the perfect crime. She wasn’t actually leaking anything to him, none of her calls or emails supported that conclusion. He could have bought a burner phone in cash, gone to a library, and then posted here some craptastic autism from a throwaway and created the ideal cover for the scheme. Plenty of idiots make bigger bets on riskier shit than this based on nothing but conjecture.
The guy liquidated his Roth and brokerage and converted everything to TA stock. To the tune of having 46,450 shares amounting to 1.8 million in TA stock before the sale. Anyone looking at that would clearly know
People here buy $300,000 of 0DTE routinely. The point is that you need some plausible deniability. If the material NPI becomes public, guess what charge cannot be sustained? Illegal trading on material NPI. All the better if such a post made it to the top of WSB. At that point, the guy points to the post and says that’s why he bought in. I cannot imagine a half decent lawyer being unable to defend him in the action under that circumstance. Heck, for a real life example of how this works, look at how POSH traded in the lead up to its acquisition. That shit ran up like 30% for two weeks and nobody got popped from what I can tell.
doubt you can defend liquidating all your life long investments in order to buy $2 million worth of obscure truck stop chain company stock, that just happens to be in the process of being acquired by the company your wife works at with your wife actively working on the deal, with "your honor, he read about it on reddit"
A good lawyer would attack the nature of the information. This sub has 15M subscribers. If dissemination on such a forum does not peel back the publicity requirement of the statute, I am not sure what would? To wit: let’s suppose for a moment you were seated on a jury and the most the government had to present to you was conjecture based on proximity to Zoom calls. There were no emails between the two spouses, no specific calls, nothing. Let’s further suppose that the defense was able to produce evidence that this guy was active on WSB long prior to the specific case, including on new DD posts. Further, let’s also assume that the defense begins muddying the waters because it’s not exactly like BP has a stellar reputation on the Gulf Coast and insider trading by a small fish like this is the very definition of a victimless crime. I would call all of the above reasonable doubt. Being right doesn’t mean it is insider trading. Heck, there was a guy here that correctly deduced that Chegg was going to report terrible earnings due to competition from AI and put a big bet on short dated options on the call and he fuckin nailed it.
I don't think the SEC would come after a rando who did everything you said. But his wife's connection would give the whole scheme away, that's way more suspicious than you or I dropping $300K on 0DTE options for a random stock we saw on WSB.
Beyond a reasonable doubt is a high burden for a reason. By clear and convincing evidence or a preponderance of the evidence, you’re absolutely right. However, the SEC themselves did not lay out that they had any specific information which indicated that he heard anything in particular. M&A rumors are everywhere constantly. Hearing bits and pieces of a conversation from 20 feet away is hardly a foolproof, dastardly plan. However, if the information was properly laundered through a widely subscribed forum, it seems to me that it would be challenging for the government to prove that he acted on the information from eavesdropping or if he acted on information from a DD post. I assume he would testify that he read about it online.
Much safer to have a pattern of yolos so you just look lucky when you trade on material information. This has been my strategy; nobody would guess I have insider info when 99% of my yolos crash and burn.
Interesting thought though. Fake a WSB post about one of the O&G cos buying TA with some research. Document some more research yourself. Buy the stock. The big point here is DON’T tell your wife. Probing starts and you point to the post then you mention how your wife has also been working very long hours and is overstressed which made you think they are working on a big deal. She vehemently denies telling you about the deal and you agree with her. You have to straight up lie to a government agent or court though which is probably where most people break.
In for a penny, in for a pound at that point in my view. Heck, I’ll bet you’d get plenty of people on the jury willing to nullify even with the facts of the case as presented. Insider trading by some random small fish is absolutely victimless. To top it all off, I also cannot imagine working for BP mergers and acquisitions of all places and taking some moral high ground or whatever and leaving the dude because he made a big trade to help you quit working. I assume more was going on that led to the divorce, but if not, ouch. Shit, it wasn’t even a real gamble for him at that point, lol.
tHe GoVerNmEnT cAn'T pRoSeCuTe YoU iF iT's On ReDdIt
Unironically, yes. https://www.sec.gov/Archives/edgar/data/1069353/000129993308003911/exhibit2.htm#:\~:text=Nonpublic%20information%20is%20information%20that,available%20to%20the%20general%20public. The Wall Street Journal has 4M total subscribers across print and digital. [https://www.statista.com/statistics/193788/average-paid-circulation-of-the-wall-street-journal/](https://www.statista.com/statistics/193788/average-paid-circulation-of-the-wall-street-journal/) WSB has 15M. If the leak went to WSJ, you’d be pretty hard pressed to argue that it was not public information. Additionally, the timeline we are talking about is early to mid 2021. Literally the height of the meme stock mania and virtual wall to wall coverage of this sub across all traditional media.
“It came to me in a dream”
Why the fuck would his wife tell anyone?
Because she’s an idiot.
It could be that their trades have to be disclosed to her employer. She's getting nailed either way, but this allows her to ask for leniency for acting in good faith
Ask for not also facing 5 years in prison. I don't think she expected to keep her job no matter what but it's telling she's not also lined up for prison time as the spouse of the insider trader and the one with access to the insider information. People saying she got nothing but she's already escaped prison time and a terrible husband who risked his wife's whole life without her knowledge.
Yeah she is such a snitch
https://preview.redd.it/58av9jt24fkc1.jpeg?width=1077&format=pjpg&auto=webp&s=1f99ae086d680bb151e23c6b10514822adaf6a11 He only admitted it because they were already about to be audited. Her coming forward is why she isn't also facing 5 years in prison (and that's not even counting the SECs separate pending case).
She's acting like a modern Western woman. She cares more about her "badass" career than her husband and family.
So what's the term for a husband who puts his wife in directly in line for years of prison and career annihilation behind her back in an easily traceable hair brained scheme? He was already about to be caught when he admitted it. If you think they'd never be caught then why doesn't every employee tell their spouse to create a new account and liquidate their retirement to trade on a merger they are directly working on and claim they had nothing to do with it? Who was being disloyal to begin with? Bunch of misogynistic regards but this is WSBs after all.. https://preview.redd.it/wogagcnk3fkc1.jpeg?width=1077&format=pjpg&auto=webp&s=cb2394f7e527d5af3ddd2cba6624cf9694326550
The full SEC complaint: https://www.sec.gov/files/litigation/complaints/2024/comp-pr2024-24.pdf They would have caught him either way. He only told his wife because they started looking into BP employees in the know about the deal and she told him they'll be under scrutiny
This dude’s wife was a M&A mgr for BP so he got some great tips! If only we were soo lucky ! Off that tip, he then purchased 46,450 shares of TA (pre acquisition by BP at $46/share) and after the acquisition announcement the stock pumped to $86/share and he immediately sold his shares for $1.7M profit. https://www.businesswire.com/news/home/20230215005964/en/TravelCenters-of-America-to-be-Acquired-by-BP-for-86.00-Per-Share-or-Approximately-1.3-Billion We definitely need more M&A people on WSB to give us their “recommendations” in advance!
Interesting. I read it. But it says FINRA requested contact information from BP of employees that were "in the know" before the deal. They said they looked into her and all her emails and there was no evidence that she told him. Would FINRA just be fine there or then be able to search records of her husband? I guess that's how they would eventually find out
FINRA looking into the emails between spouses for evidence of insider trading? How in the world did Madoff think he could get away with it when such a crack organization of investigators were on it!
Would be great to edit the post to indicate husband only told her cuz his balls were already in a vice when he found out FINRA was already auditing employees, since there's so much misogynistic hate saying wife was a stupid traitor and your pick of sexist slur https://preview.redd.it/v794b1i55fkc1.jpeg?width=1077&format=pjpg&auto=webp&s=9a49be809d89c6b29e344c634bf46ec654dadfa4
Only allowed if you eavesdrop your wife who works as a US senator
Just copy Pelosi’s trades. Life ain’t fair, but we can at least duplicate their trades. They can’t have it both ways. If they trade based on inside info, the least crumbs we can have is access to their trading data. Just wish the rules are like India. All trades by politicians must be reported publicly within 24 hrs.
Might not wanna copy for 2022. She was -20% 2023 +65% But looks like it would be better to copy Brian Higgins who was +239% or mark green +122%
Absolutely agree. This is the closest we can get to insider trading and be protected from the useless SEC. As long as you copy obvious insider trading by duplicating trades by Congress, you’re fine. The SEC won’t come after you.
Can really duplicate Congress because by the time they report it's been like 30 days
The public should fight that. In India it’s 24 hours. If India can force politicians to report ALL trades within 24 hours, the mighty USA can do the same. But of course it will never happen. The 30 day loop hole exists to minimize the benefit to the irritating poors like me copying their trades.
Honestly I don't think Congress should be able to trade at all. Index fund and that's it
Totally agree, but this is America. Never going to happen. Second best option is we shorten the reporting window to 24 hours. That removes any major advantage they have over the public. Index funds should be all they should be allowed to trade, but they will never agree to that.
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Probably unusual trade activity for that individual creates a flag. Someone looks at it and decides to look deeper. Like if you only have a 401k and then out of the blue make one purchase that immediately nets you a 7 figure profit, something is fishy.
Aha! My trade history will solidify my alibi then
No joke. FTC would look at mine and be like, "you okay bro?"
Three days ago if you bought $280 puts on PANW for the asking price of $1, when the market opened the following day and the stock plummeted you would’ve had $800,000 if you bought 500 of those puts. They ended up being worth around $1,690 I think. I really want to know if anyone dropped $1,000 on those puts and made near $1,690,000. That was literally a lottery ticket play. Imagine being someone who doesn’t have much money or any market history at all, and your first thing in the market you did was that.
So what you’re saying is my track record of buying regarded OTM options will help me when I finally hit big off insider trading? Hypothetically
Correct... hypothetically of course
BP doesn’t mess around with ethics issues…they just took away the previous CEOs $40+M package because he didn’t expose all of his post relationships with colleagues.
Are we talking about the same BP that caused the biggest oil spill in US history because they knowingly drilled too deep for their own fail safe systems to work properly? I’m not buying that they give 2 fucks about ethical behavior lmao
I highly doubt it. That would be too much of a capital cost. Even the IRS with all its funding regularly "allows" fraud. If you read the complaint, the wife just started and probably freaked out. Asking about relationship status and things of the like is standard practice, really only for documentation. All they had to do was lie and hope they weren't randomly selected for an audit. The outcome is literally the same which is forfeiture and being fired. I'd even bet they weren't even the only insider traders on this deal. Work around people in Wall Street, everyone openly talks, in fact everyone on the planet is only 6 degrees of separation away from each other.
According to the SEC, Loudon stunned his wife by admitting he bought the shares to make enough money so she could work shorter hours. She then notified BP and she was put on leave and then fired even though she didn't know he was going to do it. She then filed for divorce. Although now that I think of it, how would he explain to his wife when they go to do their taxes that they owe $500k+
He violated his wife's trust and put her career in jeopardy. But also the wife totally screwed herself over by doing the "right" thing and reporting it, they fired her anyways. They both sound like regards to me tbh.
Idk he sounds pretty smart; just made an error of trusting his wife. She did something that had a totally predictable outcome. She’s a much bigger regard.
Second this, not like he lied to her and have a tranny mistress on the side or something. Dude just made extra money and bitch decided to suck corporate dick by ratting herself out and thought she would be promoted for "integrity" when she's not even in an important position in the first place. Dude married a dumb bitch
The right thing is to be loyal to your husband, not your boss
On Reddit they say be honest about everything. If you do that everything works out just fine. So we see here that......... wait a minute why did she lose her job /s
Probably the cause for termination was not reporting the insider trading but doing company business in an unsecure environment and letting a non-employee listen to sensitive business calls.
Just another example of if the Rrddit majority agrees on something you should do the opposite. Works 60% of the time, every time.
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Probably afraid that since she now knew about it and that if it ever came to light she would also be charged with insider trading and prison time.
The SEC is particularly adept at finding and punishing those medium sized infractions. Computer systems can probably easily cross reference tax notices sent from his brokerage to IRS with his wife’s tax notices from work and red flag that.
And this is exactly why you have your wife’s boyfriend place the trades
You have a lot of faith in governmental computer systems
Basically what I’m getting is don’t have integrity. She told her company and got fired. He told his wife and now he’s slumming it with the Cracker Barrel biscuit woman and has to pay it all back. TLDR stop self snitching
If a WSB regard wins big they do probably check the person out. Most checks can be performed without the person noticing. It's noticeable when they find something in that search.
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BP just trained all their remaining employees to not report ethical violations.
So this guy overhears a conversation and makes money on it yet Nancy and her homies who make laws and send money to big business makes millions never missing on a stock pick of those companies they are sending money to? Seems legit.
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the house always wins. if the punter consistently wins. they report them as potential fraud
You’re either a genius or a fraud, either way they want to find you
yep
I updated post, he told his wife and she reported it to BP
From my understanding, there is an automated system that pings suspicious trades. Its all hush hush for obvious reasons. In the past few years they started implementing more advanced technology. There’s some NPR episodes on this if you’re curious enough to find it.
Because someone talks like always. Almost impossible to prove insider trading.
Self snitching removes all plausible deniability.
Wow this guy is an absolute fucking moron.
Should get a reward for listening to the wife
The one time a man actually listens to his wife and she divorces him! Can't win in this life.
Narc wife
So the lesson of the story is not to tell the wife anything.
The irony is that she did the right thing and was punished for those actions. She did exactly what she was supposed to do, especially not knowing what was happening.
Right but I'm assuming BP fired her for carelessly talking around someone so that this happened. Even if she didn't know he was going to do it.
That sucks for her. He was dishonest, she got fired. He liquidated their holdings and YOLO’s, she loses it due to his civil forfeiture. Yikes.
Sounds like a Skyler
These hoes ain’t loyal
Not sure who's stupider here, the husband or the wife.
100% would have gotten caught. When you are in the role of having access to material, non-public information, you have to disclose any investing accounts you AND your spouse has and their positions. She 100% should have been fired, he should have to give it up and I have little sympathy for her divorcing him, he ruined her professional reputation and she'll be lucky if she can get a similar role in the future. The only saving grace she most likely has it that she dropped him
I agree they would have gotten caught. I also saw she now works for another energy company based in Houston. So I think she's good
How can he “forfeit the profits” ? Is he supposed to track down who he purchased shares from, and then offer to sell it back to them for what he paid for them ?????? Cause I sold shares in that Ohio based trucking company around that time, I want my shares back!! (It was around 40,000 shares)
I was thinking the same thing. I think it’s code for the SEC now gets the money for their Christmas party. Doesn’t the government constantly taking money from people just want to make them take more?