SEC files complaint against former KPMG partner

The SEC has filed a civil action against former KPMG partner Scott London and his golf buddy accusing them of trading on inside information.

You can read the SEC’s press release here and see a copy of the complaint here.

You can read the WSJ’s article here and find the SEC’s complaint here.

The SEC alleges that the golf buddy made illegal profits of at least $1.27M (paragraph 7 on page 2).

Whether the SEC’s or FBI’s estimate of gains is correct, my recollection of several on-line articles suggests those amounts indicate the pair is exposed to some serious jail time.

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