A former senior partner at KPMG has been charged with insider trading after it was alleged he exchanged stock tips for cash and jewellery including a Rolex watch.
US authorities have filed criminal and civil charges against Scott London, a former senior partner at the accountancy and audit firm, over alleged insider trading. According to the complaint filed in a Los Angeles court, London told his golfing friend Bryan Shaw about a planned merger between KPMG's client RSC Holdings and United Rentals. He also told Shaw, a jeweller, about a takeover of Pacific Capital Bancorp by Union Bank, according to the charges. Shaw made more than $1m by trading on the secret information, authorities said. In return for the information, London allegedly rec...
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