Bloomberg reported that former KPMG partner Scott London agreed to a guilty plea to leaking confidential information about clients to a friend who then made more than $1 million trading on the inside scoop.
The article said, according to a statement from U.S. Attorney Andre Birotte Jr., that London faces a maximum possible penalty of 20 years in prison.
To read the entire Bloomberg story, click here.
Previously on abfjournal.com:
SEC Charges Ex-KPMG Partner, Friend With Insider Trading, Friday, April 12, 2013