REUTERS - U.S. prosecutors in California filed criminal charges against Scott London, a former senior auditor at KPMG in Los Angeles, of conspiracy to commit securities fraud for passing nonpublic information about three companies to a friend who traded on it.
The U.S. Securities and Exchange Commission filed a corresponding civil complaint against London. According to the criminal complaint, London used his position as auditor for KPMG clients Skechers USA Inc
"The public has every right to fully expect a level playing field in our financial markets," said U.S. Attorney Andre Birotte Jr.
"As alleged in the complaint, Mr. London chose to betray the trust placed in him as a financial auditor and to tip the trading scales for the benefit of insiders like himself."
Shaw made over $1 million on the trades and gave London cash and jewelry in return, the complaint said.
(Reporting by Emily Flitter; Editing by Gerald E. McCormick)
