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Former KPMG partner sentenced for insider trading

Former KPMG partner sentenced for insider trading

A former partner at the Los Angeles office of accounting giant KPMG was sentenced to 14 months in federal prison for giving confidential information about his firm's clients to a golfing buddy, who used it to make more than $1 million in profits by trading those companies' stocks.

Scott London, 51, pleaded guilty to insider trading last year, admitting that he repeatedly tipped off a friend to the secrets of several KPMG clients, including Herbalife Ltd. and Skechers USA Inc., from 2010 to 2012. In exchange, his friend, Bryan Shaw, gave him thousands of dollars in cash, a Rolex watch, jewelry and concert tickets.

U.S. District Judge George Wu issued the sentence Thursday in...

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