Here's A Photo Of Ex-KPMG Exec Allegedly Getting Cash For Insider Tips
Federal prosecutors in Los Angeles have filed criminal charges against former KPMG partner Scott London.
KPMG recently fired London, for allegedly leaking non-public information on Herbalife and Sketchers. London is said to have tipped off a third party, which the SEC alleges is his friend Bryan Shaw. Shaw reportedly made over $1.2 million trading off those tips.
Now CNBC has tweeted an image from the SEC complaint that seems to show London allegedly receiving one of many $5,000 payments for the information from Shaw. CNBC reports that London typically got 10 percent of Shaw's profits.
An SEC press release said Shaw gave London at least $50,000 in cash, a Rolex watch, jewelry, meals and tickets to entertainment.
'Exhibit A' in insider trading charges against ex-KPMG partner Scott London & friend Brian Shaw. (via SEC complaint) twitter.com/CNBCnow/status…
— CNBC Newsroom (@CNBCnow) April 11, 2013
Click here for the entire SEC complaint.
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