KPMG Trader Charged After Admitting To Insider Trading

Law360, New York (April 11, 2013, 5:13 PM EDT) -- California federal prosecutors charged the former head of KPMG LLP’s Los Angeles office with insider trading Thursday, two days after he publicly admitted to slipping information on Herbalife Ltd. and Skechers USA Inc. to a third party.

Prosecutors charged Scott London, 50, with one count of conspiracy to commit securities fraud for passing along information about KPMG corporate clients to his friend Bryan Shaw, a local jeweler. Shaw earned at least $1 million in profits from trading on the information, the criminal complaint says.

“Mr. London’s...
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