Monday, 4 May 2015
Last updated 2 days ago
Jul 2 2013 | 2:25am ET
Scott London, the former KPMG partner who passed confidential information about several companies the accounting firm audited, has pleaded guilty to securities fraud.
London entered his plea yesterday in Los Angeles federal court. He faces up to 20 years in prison when he is sentenced on Oct. 21, although he is likely to receive a shorter sentence.
London was arrested in April and quickly admitted to passing tips about several KPMG-audited companies, including Herbalife and Skechers USA, to a friend, Bryan Shaw, at least 14 times. In exchange, Shaw, who earned more than $1 million trading on the tips, gave London tens of thousands of dollars in kickbacks.
Shaw, who cooperated with investigators in the probe, pleaded guilty in May.
“It was a bad, bad mistake,” London said after the hearing. “I have no one to blame. It’s just really difficult.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…