Former KPMG partner Scott London pleaded guilty this
morning to a federal charge of securities fraud through insider trading.
London pleaded guilty pursuant to a plea agreement discussed in an
announcement from last month. In court today, London admitted taking
cash bribes and luxury items in exchange for providing confidential
information he obtained as an employee of the international accounting
firm. Federal prosecutors and London’s defense attorney have not agreed
on the specific amount of money involved in this case—meaning the value
of the bribes, the losses suffered by companies whose stock was
illegally traded, and the profits realized by Bryan Shaw remain the
subject of dispute between the parties. However, the government believes
that Shaw realized profits of approximately $1.27 million after trading
on the insider information provided by London.
London pleaded guilty before United States District Judge George H. Wu, who scheduled a sentencing hearing for October 21 at 8:00 a.m.
- Related U.S. Attorney’s Office press release: Former Senior Partner at KPMG Agrees to Plead Guilty in Los Angeles to Federal Charges Related to Insider Trading Scheme
London pleaded guilty before United States District Judge George H. Wu, who scheduled a sentencing hearing for October 21 at 8:00 a.m.
- Related U.S. Attorney’s Office press release: Former Senior Partner at KPMG Agrees to Plead Guilty in Los Angeles to Federal Charges Related to Insider Trading Scheme
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