'ROLEX mans' insider trading friend has been publicly named by his lawyer.

Bryan Shaw, from Los Angeles, used non-public information supplied by his friend, ex KPMG LLP partner Scott London, to purchase stock in companies which then increased in value when results were published.

Nathan Hochma, of Bingham McCutchen LLP, said: “my client received non-public information from Scott London about a number of companies and then profited substantially from stock trades based upon that information.” Ahead of further Federal inquiries Shaw stated: “I cannot begin to apologize for my incredibly stupid actions. There is no excuse for my wrongful conduct.”

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