KPMG recently fired one of its senior partners, Scott London, for allegedly leaking non-public information on Herbalife and Sketchers.
London is said to have tipped off a third party, which the SEC alleges is his friend Brian Shaw. Shaw reportedly made over $1.2 million trading off those tips.
Now CNBC has tweeted an image from the SEC complaint that seems to show London allegedly receiving one of many $5,000 payments for the information from Shaw. CNBC reports that London typically got 10 per cent of Shaw’s profits.
‘Exhibit A’ in insider trading charges against ex-KPMG partner Scott London & friend Brian Shaw. (via SEC complaint) twitter.com/CNBCnow/status…
— CNBC Newsroom (@CNBCnow) April 11, 2013