Category: KPMG

Scott London Won’t Be Making Flirty Comments on the Facebook Page of Bryan Shaw’s Wife Anytime Soon

It was nearly two weeks ago when we learned that ex-KPMG partner had dabbled in insider trading of several KPMG clients, including two — Herbalife and Skechers — that were audit clients of London's. It set off quite a firestorm, however when the criminal complaint against London came out, we discovered that the manner in which he and his golf buddy/watch guy Bryan Shaw conducted this little conspiracy was not too sophisticated. Phone calls. Meetings in parking lots. Black paper bags filled with cash. The Boss. It's what you might expect from a couple of middle-aged bros who had plenty of laughs together at the 19th hole. 

KPMG Insider: Partners Feel Betrayed By Scott London’s Actions

Ed. note: This post was written exclusively for Going Concern by a KPMG veteran employee that wished to remain anonymous. 

Let me start by saying I barely know Scott London. I emailed him a couple of times. I may have met him once in person (obviously it didn’t leave much of an impression). That was the extent of my interaction with him. In that limited time he seemed like a nice enough guy but that’s all I know about him. That statement was echoed by a few people I know who did work with him when this story broke. The general consensus was that it sucks that this happened to a nice guy.

(UPDATE) Complaint Says Scott London Admitted to Tipping Bryan Shaw About Five KPMG Clients

~ Update below includes details from the criminal complaint, including Springsteen tickets!

From the Journal:

Mr. London was charged with one count of conspiracy to commit securities fraud through insider trading, according to the criminal complaint. He faces up to five years in prison and a $250,000 fine. The complaint said the trades generated a profit of more than $1 million for his friend, Bryan Shaw. The complaint also says Mr. London tipped off Mr. Shaw about five KPMG clients, more than was previously known.

Lessons From L’affaire Scott London: Don’t Talk About Your Clients While Quoting Caddyshack

I love Peter Henning's suggestion that ex-KPMG partner Scott London was swapping Caddyshack quotes with his golfing buddy. Everyone having few drinks after playing a round inevitably sees someone walk by with a hideous headpiece and says, "When you buy a hat like this I bet you get a free bowl of soup." I think it's a law in Florida that you have to recite that line.