Former BP crisis manager Keith A. Seilhan has settled with the SEC after facing insider trading charges related to the massive 2010 Gulf of Mexico oil spill. Seilhan had dumped his company stock before news of the spill’s severity had spread.
According to the federal charges, Seilhan used confidential information on the extent of the 2010 Deepwater Horizon oil spill in the Gulf of Mexico to profit, by selling over $1 million in BP company stock right before the stock crashed. He would have lost about $100,000 if he had sold the stock after the price tumbled, CNNMoney reported.
For more on this story, visit: Ex-BP manager settles with SEC over Gulf oil spill insider trading charges — RT USA.