Tragedy of Fraud - Insider Trading Edition
The fall from Big 4 audit partner to prison inmate. Because he leaked private information to a golf buddy who traded on the secrets, Scott London, formerly audit partner at the pinnacle of his career, was sentenced to 14 months in federal prison for insider trading. More
The fall from Big 4 audit partner to prison inmate.
In March 2013, Scott London, CPA, was a partner in the international accounting firm of KPMG. He was in charge of the audit practice for the southwest region with responsibility and authority over 500 accountants. In April 2013, he saw his photograph on the front page of major national newspapers. He was accepting a payment from his golf buddy as payment for information he provided that was used for insider trading. A year later, in April 2014, he was in front of a federal judge hearing that he would spend 14 months in federal prison for insider trading. In this book you will read of his fall from the dream job at the professional peak of his career to a convict residing in a federal penitentiary.
There is a long list of additional consequences he pays for his illegal behavior, ranging from losing his CPA license, knowing he will be the subject of case studies for decades, never being able to talk to his former colleagues again, and having his college age daughter listen to her accounting professor discuss her dad’s illegal behavior in class.
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