A former partner with 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 trading stocks.
U.S. District Judge George Wu issued the sentence Thursday in Los Angeles. He also ordered London to pay a $100,000 fine.
Defense attorney Harland Braun had argued for a sentence of 18 to 24 months, noting that his client had already paid dearly for his crime: losing his $900,000-a-year job, his reputation and a host of KPMG friends who are not permitted to talk to him.
Not being able to talk to your former colleagues at an accounting firm you totally shamed is a punishment? Alright, bro.
Anyway, prosecutors wanted London to get something more like 3 years due to the fact that what he did was really really bad for his clients, their earnings, and his former firm.
London's golfing buddy Shaw is scheduled to be sentenced May 19.