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Jeweler Pleads Guilty In KPMG Insider Trading Case

The close friend of a former KPMG LLP senior partner accused of insider trading pleaded guilty Monday in a scheme that involved top clients of the Big Four accounting firm.Bryan Shaw, 52, a Los Angeles jewelry store owner, will return to court for sentencing in September. He pleaded guilty to one count of conspiracy during a hearing in federal court in Los Angeles and could face up to five years in prison.As part of his plea, Shaw agreed to repay $1.3 million in profits he made from using inside information to trade ahead of important moves made by KPMG clients such as Herbalife (NYSE:HLF), Skechers USA (NYSE:SKX) and Deckers Outdoor Corp. (NASDAQ:DECK).Shaw's friend, Scott London, who oversaw KPMG's audit practice for the Pacific Southwest, has been charged with one count of conspiracy to commit securities fraud through insider trading.Prosecutors allege that London provided confidential information about KPMG clients including unreleased earnings reports to Shaw over a period of seve...

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  12. Skechers Says KPMG Resigns As Auditor, Shares Up

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  3. Shaw to Plead Guilty in KPMG Insider Case

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  4. Friend of ex-KPMG auditor accused of leaking info pleads guilty

    The California jeweler who gave a former KPMG auditor cash, merchandise and concert tickets in exchange for inside information about public companies pleaded guilty ...

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