Houstonian heads to prison in $1.7M insider trading scheme using wife’s private company information
A 42-year-old man has been sentenced for securities fraud
Hasnain says:
“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 international oil and gas company. Loudon learned 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.”
Posted on 2024-11-28T02:18:15+0000