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Ex-KPMG Auditor London Pleads Guilty to Insider Trading

A former senior KPMG LLP partner, Scott London, pleaded guilty to leaking confidential information about the audit firm’s clients to a friend who made more than $1 million trading on the inside information.

London, 50, admitted to one count of securities fraud at a hearing today in federal court in Los Angeles. He faces as long as 20 years in prison at his sentencing scheduled for Oct. 21 before U.S. District Judge George Wu.