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Former KPMG partner to serve sentence for insider trading
Scott London was sentenced to 14 months yesterday after pleading guilty to insider trading last year, when he was still a senior partner at professional services company KPMG.
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He admitted to giving his friend and jeweller Bryan Shaw at least 14 tip-offs concerning announcements by KPMG clients, which is estimated to have earned Shaw $1.27m and London $70k. London said: ‘I deeply regret my actions…I blame no one but myself.’ Mr London oversaw more than 500 accounting professionals in his role at KPMG as well as personally handling audits for top clients. Source: Wall Street Journal
