Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Classified Sites

The Canadian Press - ONLINE EDITION

Los Angeles jewelry store owner involved in KPMG insider trading sentenced to federal prison

LOS ANGELES, Calif. - A jewelry store owner who prosecutors say made about $1.6 million trading on inside information from KPMG has been sentenced to five months in federal prison.

Bryan Shaw pleaded guilty to conspiracy last year and was sentenced Monday in Los Angeles. U.S. District Judge George H. Wu did not impose any fines because Shaw already has returned $1.27 million to the Securities and Exchange Commission and has paid penalties of $635,893.

Prosecutors say KPMG partner Scott London provided confidential client information to Shaw in exchange for cash and goods including jewelry, concert tickets and a $12,000 Rolex watch. Scott, who was fired, was sentenced in April to 14 months in federal prison for insider trading and fined $100,000.

London was a senior partner at KPMG who supervised more than 500 accounting professionals at the firm and personally handled audits for major clients. He had faced a potential sentence of 20 years in prison. Shaw had faced up to five years.

Prosecutors say Shaw used the information from London to make stock trades in advance of announcements by KPMG clients such as Herbalife Ltd. and Skechers USA. This went on for several years.

"Behaviour like this is an affront to people who follow the law and compromises the public perception in the inherent fairness of the markets by creating an uneven playing field," said U.S. Attorney Andre Birotte Jr.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.


Make text: Larger | Smaller

Brandon Sun Business Directory
The First World War at 100
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates