The golfing buddy of a former KPMG LLP senior partner in Los Angeles was sentenced to five months in prison for making about $1.6 million in stock trades from insider tips. Scott London, former chief of KPMG’s audit practice for the Pacific Southwest, was sentenced earlier this year to 14 months in federal prison for disclosing confidential information about public companies, including Herbalife Ltd. and Skechers USA Inc., to his friend, Bryan Shaw, in exchange for $70,000 in cash, concert tickets and a $12,000 Rolex watch.
U.S. District Judge George Wu, who imposed Shaw’s sentence on Monday, ordered him to surrender to federal authorities in August.
via Co-Defendant Sentenced in KPMG Insider-Trading Scheme | National Law Journal
