October 23, 2018

Scott London

A Thing We Desperately Wish Were Real: A Photo of Phil Mickelson and Ex-KPMG Partner Scott London Yukking It Up

Texas A&M professor Mike Shaub put the idea in our heads and now we can't get it out: Waiting for the photo of Scott London and Phil Mickelson laughing at a firm event in T minus 5, 4, 3…. And it will be totally irrelevant. — Mike Shaub (@mikeshaub) May 19, 2016 Irrelevant or not, […]

Ex-KPMG Partner Convicted of Insider of Trading Will Hit the Streets This Summer

Courtesy of James Ulvog, we learn that Scott London, convicted passer of material non-public information to a golf (former) buddy, is laying his head somewhere new: The Bureau of Prisons inmate locator shows that Scott London is currently under supervision of the Long Beach Residential Reentry Management office. His scheduled release date still shows at […]

Scott London Talks About Relationships, Rolex Watches and How He Hates that Parking Lot Picture

ICYMI, MarketWatch interviewed Scott London the other day — which I suppose was a good idea since interviews might get a bit more difficult after London heads off to prison to serve his 14 month sentence next month. In the interview, London comes off as approachably remourseful, almost like a grandma apologizing to her heirs […]

Ex-KPMG Partner Who Gave Insider Tips to His Former Golf Buddy Is Going to Talk About Ethics Before He Goes to Prison

For the low low price of $158, you can sit in on a live video interview with fallen star Scott London, who will be giving insight into the importance of ethics before he heads to prison due to his the ethical deficiency that led him to profit off insider tips he gave to his golf […]

Now That He’s Sentenced, Scott London Plans For the Future

This is worth pulling out of the archive. In an exclusive interview last year, London tells CNBC he received $50,000 in cash, a watch worth $10,000, and $10,000 in "gifts" for his wife by giving tips only an insider would have to his pal Brian Shaw. As we all know by now, Scotty walked away […]

Scott London Sentenced to 14 Months in the Can and a $100k Fine

Let this serve as a reminder of what can happen when you meet shady looking dudes in a Starbucks parking lot.

John Veihmeyer Not at All Ashamed to Talk Scott London to Business Students

Too bad I didn't hear about this sooner or I totally would have tried to crash this party. Freshly christened KPMG Global Chairman and still KPMG US CEO and Chairman John Veihmeyer schooled the kids at University of Richmond’s Robins School of Business this week, and he wasn't at all afraid to say the L […]

Sorry to Disappoint But Scott London Will Not be Sentenced Today

Attestation Update has the details as well as a clever dig at the GC faithful: Everyone who had been looking forward to a generous serving of popcorn and schadenfreude on Thursday will have to wait another 2 months. That's right. Mark April 21, 2014 on your calendars and keep an eye on Attestation Update just […]

Scott London’s Updated LinkedIn Profile Is the Greatest Thing Ever

As pointed out by Attestation Update, looks like Scott London is hoping to put all this insider trading drama behind him and start fresh. He brings to the table years of experience and just a few bad choices. If nothing else, you have to give the guy credit for giving exactly zero fucks instead of […]

Save the Date: Scott London May Get Sentenced on Thursday

Attestion Update has been on this like the feds on London's nuts: Sentencing is schedule for former KPMG regional audit PIC Scott London on February 27, 2014 regarding his plea agreement admitting insider trading. That’s the latest visible information in the federal system that shows filings. Previous post mentioned on 2/13 that Something in London […]

Reminder: Insider Trading Turned Out Badly for Ex-KPMG Partner Scott London

UPDATE: See update below regarding sentencing timing. It's been quite awhile since we've been on the Scott London beat, but something interesting was brought to our attention late last week that's worth sharing. In a court filing from last month, London's attorney Harland Braun laid out the arguments against a Presentence Report by the United States […]

KPMG Can’t Control the Scott Londons of the World, Says Scott London

Scott London pleaded guilty in Los Angeles court earlier today, but prior to his appearance, he gave an interview to the Wall Street Journal where he admitted that after he had given his watch guy/co-conspirator Bryan Shaw material, non-public information about KPMG clients 14 times, the two men decided that their little insider trading scheme […]

Let’s Ponder Scott London’s Potential Future in the Service Industry

Late yesterday, Scott London appeared in court to be arraigned on charges of securities fraud and afterwards he gave an interview to CNBC. In that interview ScoLo reiterated his statement that he had never passed material non-public information to a golfing buddy — or anyone else for that matter — prior to this incident. "I […]

Bryan Shaw’s Lawyer Has a Perfectly Good Explanation for His Client’s Guilty Plea in KPMG Insider Trading Case

For once, we have a lawyer who is of very few words: "He pled guilty because he is guilty," [Nathan] Hochman said. "Mr. Shaw, as he's been heard saying, made some incredibly stupid decisions."  We can expect a similar explanation from Scott London on May 30. Stay tuned. [LAT]

Former KPMG Partner’s ex-Golf Buddy/Co-conspirator Pleads Guilty in Insider Trading Case

Bryan Shaw, the man who provided ex-KPMG partner Scott London with Springsteen tickets, discount Rolexes, and black paper bags filled with cash in broad daylight, pleaded guilty to one count of conspiracy to commit securities fraud today.

Herbalife’s Surprise Be-Our-New-Audit-Firm Sweepstakes Will Have a Winner Soon

Herbalife Ltd. is making progress in its search for a new accounting firm, executives said during a conference call with analysts Tuesday. The Los Angeles nutritional products company was forced to hire a new accounting firm after KPMG resigned earlier this month because one of its senior partners was accused of insider trading in Herbalife stock. The […]

ICYMI: BDO Picks Up Skechers After…Ya Know

Bravo Delta Oscar has come to Skechers' rescue and will re-audit the two years worth of financial statements that KPMG abandoned after we learned that Scott London spent some of his billable hours counting cards. From henceforth, gaining a client due to a scandal of a notable degree shall be known as "picking up a London." […]

(UPDATE) KPMG, in the Midst of Grief, Is Reminding the Academic Community of Their Business Success and Enthusiastic Employees

The KPMG apology tour continues. Well, maybe it isn't an "apology tour." It's more like, "KPMG: We can explain," tour. Actually, no, it's not that either. It's more of a "KPMG: Can you believe what this guy did?" tour with support from "This is NOT what we stand for." That has been the message to both […]

John Veihmeyer Has a Friendly Message To New Associates In the Wake of KPMG’s Insider Trading Scandal

A tipster has sent us this lovely email from the Veihz that basically shows when in a crisis, it's best to face it head on and make sure your new associates do not regret their decision to join your firm. Since they're working for KPMG already, it's probably a good idea to reassure them as […]

KPMG Global Chairman Doesn’t Consider a Partner at His Firm Passing Material Non-public Information About Audit Clients to a Golf Buddy to Be All That Newsworthy

I mean, really. The chairman of KPMG has dismissed as a “one-day wonder” the insider trading scandal involving the former head of the firm’s Los Angeles audit practice. Michael Andrew downplayed the global prominence of the controversy involving Scott London, a senior audit partner who has admitted leaking client secrets to a golfing partner who traded […]

Scott London Won’t Be Making Flirty Comments on the Facebook Page of Bryan Shaw’s Wife Anytime Soon

It was nearly two weeks ago when we learned that ex-KPMG partner had dabbled in insider trading of several KPMG clients, including two — Herbalife and Skechers — that were audit clients of London's. It set off quite a firestorm, however when the criminal complaint against London came out, we discovered that the manner in which he and his golf buddy/watch guy Bryan Shaw conducted this little conspiracy was not too sophisticated. Phone calls. Meetings in parking lots. Black paper bags filled with cash. The Boss. It's what you might expect from a couple of middle-aged bros who had plenty of laughs together at the 19th hole. 

KPMG Insider: Partners Feel Betrayed By Scott London’s Actions

Ed. note: This post was written exclusively for Going Concern by a KPMG veteran employee that wished to remain anonymous. 

Let me start by saying I barely know Scott London. I emailed him a couple of times. I may have met him once in person (obviously it didn’t leave much of an impression). That was the extent of my interaction with him. In that limited time he seemed like a nice enough guy but that’s all I know about him. That statement was echoed by a few people I know who did work with him when this story broke. The general consensus was that it sucks that this happened to a nice guy.

Kaption Kontest Friday: Say Kheese!

Via the New York Times, ex-KPMG Partner Scott London (right) leaves court with his attorney, Harland Braun yesterday in Los Angeles.

(UPDATE) Complaint Says Scott London Admitted to Tipping Bryan Shaw About Five KPMG Clients

~ Update below includes details from the criminal complaint, including Springsteen tickets!

From the Journal:

Mr. London was charged with one count of conspiracy to commit securities fraud through insider trading, according to the criminal complaint. He faces up to five years in prison and a $250,000 fine. The complaint said the trades generated a profit of more than $1 million for his friend, Bryan Shaw. The complaint also says Mr. London tipped off Mr. Shaw about five KPMG clients, more than was previously known.

KPMG’s Official Statement Meets Mystery (Bachelor of) Science (in Accounting) Theater

When a giant insider trading turd hits the fan of independence, KPMG spokesman Timothy Connolly is there with a Clorox wipe to sanitize the minds of the American public. Here's what he said. Be careful, it'll probably sting your amygdala. Late last week, we were informed that the partner in charge of KPMG’s audit practice in […]

Lessons From L’affaire Scott London: Don’t Talk About Your Clients While Quoting Caddyshack

I love Peter Henning's suggestion that ex-KPMG partner Scott London was swapping Caddyshack quotes with his golfing buddy. Everyone having few drinks after playing a round inevitably sees someone walk by with a hideous headpiece and says, "When you buy a hat like this I bet you get a free bowl of soup." I think it's a law in Florida that you have to recite that line.