Mail A former senior partner with accounting giant KPMG has agreed to plead guilty to fraud over his involvement in insider trading, officials have confirmed.
The two men had met at a country club several years earlier and became close friends and golfing partners.
London is being represented by Harlan Braun in Los Angeles. London has said that he provided the inside information about his clients to help Shaw overcome financial struggles after his family-run jewelry business began faltering in the economic downturn.
Shaw also gave London an expensive Rolex watch as well as other jewelry, meals, and tickets to entertainment events. London, who lives in Agoura Hills, Calif. The firm immediately terminated him. Canellos, Acting Director of the Division of Enforcement. Shaw and London communicated almost exclusively using their cell phones, although on at least one occasion London disclosed nonpublic information in the presence of others during a golf outing.
London was able to obtain material, nonpublic information about these companies prior to their earnings announcements or release of financial results. Shaw, who lives in Lake Sherwood, California, traded at least a dozen times on the inside information he received from London.
London tipped Shaw with the confidential details.Scott London (ex KPMG Partner) interview regarding Insider Trading You see it a lot in insider trading cases. There was a big law associate who was fired a few months ago because she passed insider info to her husband who worked at MIT.
They used the knowledge of an upcoming merger (or something like that) to make $k. Jul 02, · Former KPMG auditing partner Scott London pleaded guilty to an insider-trading charge, and struggled afterward to explain why he jeopardized his career, reputation and freedom for money he didn't need.
Interview With Former KPMG Partner Scott London on Why He Broke Bad Bruce Carton | January 7, In July , I noted here that Scott London -- the former KPMG partner who pleaded guilty to insider trading in June and was sentenced to serve 14 months in prison in April -- was about serve out the rest of his sentence in home detention.
The WSJ reports that Scott London -- the former KPMG partner who pleaded guilty to insider trading in June and was sentenced to serve 14 months in prison in April -- is now out of prison. London reported to a minimum security prison in July , where he served about eight months. Apr 24, · Scott London, who gave insider tips to a golf buddy while a partner at KPMG's Los Angeles office, is sentenced to 14 months in prison.
Scott London, the former Los Angeles KPMG partner who pled guilty to insider trading, is out of prison – and back to work.
London since April has been an assistant to the chief financial officer.