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US charges ex-KPMG partner with insider trading

LOS ANGELES (AP) -- The Los Angeles U.S. attorney's office and the Securities Exchange Commission have filed criminal and civil insider trading charges against a former KPMG partner and his close friend.

Fifty-year-old Scott London of Agoura Hills, Calif., was charged Thursday with one count of conspiracy to commit securities fraud in the criminal complaint.

Prosecutors allege that London provided confidential information about KMPG clients to Bryan Shaw over a period of several years.

They say Shaw used the information to make illegal trades worth more than $1 million.