Jim Ulvog

Scott London was interviewed at length during a CPE webcast presented June 25, 2014. The class was presented by Gary Zuene, of The Pros & The Cons.

Mr. London was remarkably open.

He repeatedly accepted full blame for the insider trading. At several points he explained the context, pressures he was under, and actions by others (especially his golfing buddy) that help us understand the situation better. Each time he mentioned something outside of himself he again said that he is responsible. He is to blame.

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Interview with Scott London during CPE webcastRead More »

Two interviews of Scott London have appeared quite recently in advance of his marathon interview in a CPE class:

• 6/21 – Quentin Fottrell at Market Watch – Confessions of an insider trader on the eve of his prison sentence
• 6/16 – Walter Pavlo at Forbes – Fmr KPMG Partner Scott London Shares Cautionary Tale Before Prison

A few ideas from each of the interviews and a few of my observations.

Quentin Fottrell at Market Watch –

Mr. London perceives that insider trading is rampant.

He asserts he received about $50,000 in total, which includes the Rolex (which he rarely wore), and concert tickets.

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2 interviews with Scott LondonRead More »

Well, at least I think it will be the event to see. Next Wednesday, June 25, Scott London will be interviewed in a webcast presented by The Pros & The Cons.

To my recollection, all the previous interviews of Mr. London were brief events entering or leaving a court room. There have been a few conversations with reporters, but nothing in detail. This will be the first, in-depth interview I know of. Several hours will allow the time to give full, nuanced answers and explore follow-up questions.

Gaylen Hansen, former chair of the NASBA Ethics Committee will be the lead interviewer. Gary Zuene recently announced the Michael Sallah, investigative journalist from The Washington Post, has joined the interviewing team. Looks to be a great team of interviewers.

Block out 1 to 5 Eastern / 9 to 1 10 until 2 Pacific time for a 4 hour ethics class.

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CPE event of the year – 4 hour ethics class featuring interview with Scott LondonRead More »

After the sentencing of Scott London to 14 months in prison, KPMG issued me (and the rest of the world) a statement saying:

It was appropriate that Scott London was held accountable for the consequence of his illegal and unethical action.

As I mentioned earlier, there were some comments in public by Mr. London’s attorney that KPMG and Mr. London had worked out something through the partnership agreement. My guess is they closed out his capital account.

My guess at the time was that the sentencing cleared the path for KPMG to sue Mr. London. They would definitely have cause since the Herbalife reaudit cost around $15M, and they probably sent the bill to KPMG, who probably paid it quickly. I’ll guess that KPMG paid for the reaudit of the other two clients.

So, will KPMG sue Mr. London?

When I tweeted about my post, Francine McKenna followed up with a tweet saying something to the effect that this was the end of the case. Nothing else would be heard.

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Why KPMG won’t be suing Scott LondonRead More »

The sentencing documents are available on the federal PACER system for Bryan Shaw’s conspiracy conviction. Not really any new information. Did want to mention what is listed there. Also want to mention tracking info in the Bureau of Prison’s system for both Mr. Shaw and Mr. London.

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Minor details of Bryan Shaw’s sentencing for insider trading caseRead More »

Found some more comments from coverage of the sentencing for Scott London that change the perception of the hearing. At least it changes my perception. Mentioned this earlier here. Wish I had been in the sentencing hearing.

Look at the comments I mentioned earlier:

The Wall Street Journal – Former KPMG Partner Scott London Gets 14 Months in Prison for Insider Trading: …

More context on the sentencing hearing for Scott London. Why I am writing so much about this case.Read More »