Ex-KPMG Partner's Friend To Admit To Insider Trading

Law360, New York (May 6, 2013, 8:59 PM EDT) -- A California jeweler accused of receiving illicit stock tips from the former head of KPMG LLP’s Los Angeles office agreed to plead guilty Monday to insider trading and forfeit approximately $1.27 million in illegal profits.

Bryan Shaw, 52, of Lake Sherwood, Calif., will cop to one count of conspiracy after striking a plea deal, according to a statement released by federal prosecutors. Shaw admitted to receiving tips from his friend Scott London, 50, who allegedly passed along information about corporate clients at KPMG.

“These two men...
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