“Can you imagine a second-tier firm auditing a global bank at a time when there is already a lack of confidence in the marketplace?” He added: “They simply don’t have the skills or the market expertise.” He also accused some smaller rivals of being “quite lazy” about investing in their businesses. [FT]
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Former Deloitte Partner’s Wife Faces Prison After Pleading Guilty to Insider Trading
For those not in the know, San Francisco is already an overpriced third world toilet but Pacific Heights is the go-to for wanna-bes, socialities and trust fund babies who can afford the pricey rents and even pricier home values. According to earlier reports, Annabel McClellan fell in the “wanna-be” category, though we aren’t sure if the fact that her husband worked at the Deloitte had anything to do with that.
The Bay Citizen has the latest update in this sordid tale:
A Pacific Heights housewife will be heading to prison after pleading guilty Tuesday to insider trading and obstruction of justice charges.
In her plea agreement, Annabel McClellan says she gleaned confidential information about publicly traded companies by overhearing her husband, Arnold McClellan, then a partner at Deloitte Tax LLC, discussing details of deals he was working on. She then passed the information on to her sister, Miranda Sanders, and brother-in-law, James Sanders, who was involved in a trading business in London, according to the document.
James Sanders made money from the tips, including about £396,851 (about $648,000 at current exchange rates) from information about Getty Images, according to McClellan.
McClellan also says in the agreement that she obstructed justice by lying to the Securities and Exchange Commission about having obtained and passed on the information.
Both Arnold and Annabel McClellan had been named in a civil suit filed in November by the SEC, but Annabel alone faced U.S. criminal charges.
We’re not sure where this puts McClellan’s sex app – My Nookie – but we’re pretty sure she won’t be needing it behind bars; her only sex position in the years ahead will likely be Don’t Drop the Soap, or maybe Reverse Don’t Drop the Soap if she’s feeling particularly randy.
Meanwhile, let this serve as a lesson to partners: keep your trap shut in front of the Mrs., lest she act on anything she overhears you talking about and later get taken down by the authorities for sharing that information with the girlfriends and in-laws.
McClellan will be sentenced on September 20th. She faces a maximum prison sentence of five years and fines of up to $250,000. That’s 83,612 copies of My Nookie (priced at $2.99) if you are playing along at home.
Earlier: Insider Trading Charges Throw a Wrench into Former Deloitte Employee’s Plans for Sexy Mobile App
Vault Accounting 50: PwC Is Still the Most Prestigious Firm In the Land (2021)
There wasn’t much that changed in Vault’s 2021 ranking of the most prestigious accounting firms, […]
Hurricane Irene Watch: PwC Encourages Employees to Prepare to Work By Candlelight
Directly from 300 Madison:
Caleb,
This is a ridiculous email, see below, that we received [Thursday] regarding the hurricane. I work at 300 Madison Ave and thought this was hilarious. Note how we are supposed to buy candles in case the power goes out but we also need to bring our laptops home so we can work from home on Monday. Sorry P Dubb but if I need plywood to protect my apt from hurricane winds, the client should understand why my deliverable is a day or two late.
Also, during the winter we constantly get emails informing us that the office ONLY closes if the governor declares a state of emergency. According to this article, Cuomo already did that but good ol’ [Metro Region Managing Partner] Brendan Dougher hasn’t sent me an email telling me to stay home.
Here’s the communiqué:
Hurricane Irene
Unfortunately it appears that hurricane Irene will make for a challenging weekend for our area and we wanted to share the following information and guidance with you. As always, the firm’s first priority is the safety and well being of its people.
US Security is in regular contact with a private weather service and will track the storm over the weekend and remain in contact with our local team. When you leave the office today and tomorrow, take your laptop with you as you may need to work from home on Monday. Please secure all work-papers and confidential information in a locked drawer, filing cabinet or in the Records Center. Depending on the damage and disruptions from the storm, we may need to adjust our office hours on Monday. Please check your e-mail or voicemail early Monday morning to obtain the latest information on the status of the office.
Actions Required
Update your personal and emergency contact information with your profile on myKcurve; this information is critical for our Crisis Assessment Team who may need to locate you after a disruptive event
Program the Emergency Hotline number [redacted] into your cellular phone and also provide the number to your family and other emergency contacts that may need to inquire about your safety and well being
Respond to any e-mails or voice messages from the Crisis Assessment Team or office contacts attempting to locate you after an event
Check your voice messages. Office announcements and crisis guidance may be shared with you through this medium
Secure all client or confidential information in a locked drawer, filing cabinet, or the Records Center before departing from work
Take your laptop and essential peripherals home with you.
Guidance to Consider at Home
Have candles and/or battery operated lighting readily available; hurricanes typically result in power outages
Have a battery powered radio available to receive weather reports and evacuation advisories
Stock food supplies that do not require cooking
Stock 2-3 days of water; one gallon per person per day
Purchase a First Aid Kit for the appropriate number of members in your home; consider liquid soap that does not require water
Identify a secure location in the home away from windows where you can locate during the storm; consider storing blankets in this area
Have plywood or shutters ready to cover windows
Remove all objects in your yard that are not secured or could be damaged by the wind
Be prepared for flooding and heavy rains
One of the best preparedness items is to stay informed. Follow news reports and read office communications. Many websites also provide comprehensive coverage and are a great resource for all of us. Should you have any questions or concerns, please contact security@us.pwc.com or call the Emergency Hotline.
So while the rest of Manhattan is bailing itself out by bucket, be sure you’ve taken the necessary precautions to hit the ground running on Monday. And take it easy on the weekend. If the electricity is out, you’ll need plenty of battery to get through the day.