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Thursday, Aug 18, 2022
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KPMG Conspirator Pleads Guilty

Bryan Shaw, a San Fernando Valley businessman, pleaded guilty Monday for insider stock trading in conspiracy with a former partner at the downtown Los Angeles office of accounting firm KPMG. Shaw is a part owner of Shaw Diamond Co. in Encino. Authorities alleged he made more than $1 million in illegal profits using confidential knowledge given to him by Scott London, an Agoura Hills resident and former KPMG partner. Shaw pleaded guilty to one count of conspiracy and will be sentenced Sept. 16. The crime carries a maximum sentence of five years, but Shaw could face less time because he cooperated with authorities by making tape recordings of conversations with London. He will have to forfeit his ill-gotten gains. Shaw admitted to giving cash, jewelry and sports tickets to London in exchange for inside information about publicly traded companies. London had access to such information through his work as an auditor at KPMG. Shaw then bought or sold stocks in several local companies, including Herbalife Ltd. of Los Angeles, Skechers USA Inc. of Manhattan Beach and Deckers Outdoor Corp. in Goleta. London has yet to enter a plea on a criminal charge of insider trading. He is scheduled to appear in court May 30.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.
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