Trader Who Got Insider Tips From KPMG Accountant Says Sorry

FlickrThis is not Brian Shaw.A jeweler and diamond broker has apologized for trading on former KMPG partner Scott London’s stock tips. 

Los Angeles-area resident Bryan Shaw has issued a statement saying he’s cooperating with multiple federal investigators. 

Bloomberg’s Edvard Pettersson has Shaw’s statement, via his lawyer:

During 2010 through 2012, I received non-public information from Scott London about a number of companies and then profited substantially from stock trades based upon that information. I cannot begin to apologise for my incredibly stupid actions…Over the past several months, I have fully cooperated with the FBI, the SEC, and the U.S. Department of Justice in their ongoing investigation of this matter. I expect that my actions will result in significant civil and criminal consequences, but I realise that this is the painful price I will pay for my transgressions.

Multiple sources report Shaw is a partner at Shaw Diamond Co. of Encino, Calif.

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