Attestation Update – A&A for CPAs

Technical stuff for CPAs providing attestation services

Post-release interview with Scott London – 1

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Just finished watching a 2 hour webcast from CPA Crossings. Gary Zeune interviewed Scott London on what got him into prison on an 14-month sentence for securities law violation.

This interview will be available again on June 18 and June 22. More info here.

The four-hour interview from last June, before Mr. London reported to prison, will be broadcast again on June 15, 25, and 30. More info here.

I heartily recommend the webcast. If you are looking for an ethics course that’s a lot more interesting than the typical “here are the rules” presentation, check out one or both of the above webcasts.

I will have several articles on the interview over the next few days. Will talk about one part of the interview now –

Incarceration timeline

Here’s a timeline as mentioned in the webcast and accompanying materials:

  • 7/18/2014 – self-reported to prison; transferred to Taft facility; placed in solitary confinement because Bryan Shaw was also at that facility
  • 8/18/2014 – transferred to Lompoc minimum-security facility
  • 3/26/2015 – released from Lompoc and transferred to half-way house
  • About 4/3/2015 – got a job and was leaving the half-way house during the day
  • ???? – The audio feed dropped two or three critical words from one comment, so I missed the date that Mr. London was not spending any more nights at the half-way house. The day was the 12th, but I missed the month.  This is the point he was living at home under home-detention. He is currently staying at home each night. (See update/correction below.)
  • 7-25-15 – end of his official sentence – the Bureau of prisons inmate or locate site shows July 23 as the official end date. He is currently under supervision of the Long Beach Residential Reentry Management office. Home detention will end on that date.

Counting on my little fingers that means he was in prison eight months and seven days. His 14 month sentence was reduced by 53 days as motivation to be a good boy. I have learned that this is standard procedure for federal sentences.

I’ll have more to say over the next few days about the interview. Anyone reading to the end of this post would get a lot out of either or both of the webcasts. Check them out.

Update:  Michael Rapoport has a report on the webcast:  Scott London, Ex-Auditor From Insider-Trading Scheme, Is Out of Prison, Has a Job.

One tidbit from Mr. Rapoport’s article helps me fill in one key detail.

During the webcast, I wrote down the transition from overnight stays at the half-way house to home detention was June 12. I thought that was in the past-tense – a transition that was already done.  The webcast quality dropped a few words in the midst of that specific comment. Thus my confusion. The WSJ article says he will transition to home detention this week.

Aha! The comment I missed was that June 12 will be the first day he isn’t sleeping at the half-way house.

So, the timeline is:

  • 3/26/15 – released from Lompoc minimum security camp to half-way house supervised by Long Beach RRM
  • 6/12/15 – transition from half-way house to home detention
  • 7/23/15 – end of sentence

That will be

  • 8 months 1 week in prison
  • 2 months 2 weeks in half-way house
  • 1 month 2 weeks on home detention

That’s 12 months 1 week. The actual days are 370, assuming the official end is 7/23/15 as currently shown on the BoP website.

Mr. London’s LinkedIn page says he is the assistant to the CFO of a local computer company. He has been in that position since April 2015.

Written by Jim Ulvog

June 8, 2015, 12:46 pm at 12:46 pm

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