A Westlake Village man has been charged by federal prosecutors in connection with a major scandal involving a major accounting firm, and has agreed to a plea deal
Prosecutors say Bryan Shaw made more than a million dollars in profit from insider trading information he received from a friend of his with Wall Street powerhouse KPMG.
Investigators say for KPMG senior partner Scott London supplied Shaw with critical financial information about corporations which were clients of the accounting firm.
They say Shaw gave money, concert tickets, and other compensation to London. Shaw eventually cooperated with prosecutors, and entered a guilty plea to a charge that he conspired to commit securities fraud. He’s agreed to pay back more than $1.2 million dollars, and could face up to five years in federal prison when he’s sentenced.
London is set to appear in federal court later this month for charges stemming from the investigation.