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 Brian 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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