Five questions answered on the KPMG scandal

Scott London has been accused of insider trading.

A senior partner at accountancy firm KPMG is facing criminal and civil charges for insider trading. We answer five questions about the case.

What exactly has the KPMG partner been accused of?

KPMG employee, Scott London, has been accused of insider trading by passing on information to a golfing friend, who then traded share tips.

What evidence are the allegations based on?

It is believed Los Angeles based London was secretly recorded by investigators passing on information to jeweller friend Bryan Shaw.

According to the filing, London told Shaw about a merger between KPMG's client RSC Holdings and United Rentals, as well as about another takeover of Pacific Capital Bancorp by Union Bank.

It is alleged that Mr London received cash in exchange for the tips offs.

How were authorities alerted to London’s alleged illegal activities?

There’s speculation that they were first alerted to his alleged insider trading after Shaw's stockbroker noticed unusual share trading patterns.

What have KPMG said about the allegations?

KPMG immediately separated the firm from London and in a statement published on the BBC said:

"This individual violated the firm's rigorous policies and protections, betrayed the trust of clients as well as colleagues, and acted with deliberate disregard for KPMG's long-standing culture of professionalism and integrity."

What effect has this had on KPMG?

The audit company this week resigned as auditor to US companies Herbalife and Skechers when the allegations came to light.

Photograph: Getty Images

Heidi Vella is a features writer for Nridigital.com

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Appreciate the full horror of Nigel Farage's pro-Trump speech

The former Ukip leader has appeared at a Donald Trump rally. It went exactly as you would expect.

It is with a heavy heart that I must announce Nigel Farage is at it again.

The on-again, off-again Ukip leader and current Member of the European Parliament has appeared at a Donald Trump rally to lend his support to the presidential candidate.

It was, predictably, distressing.

Farage started by telling his American audience why they, like he, should be positive.

"I come to you from the United Kingdom"

Okay, good start. Undeniably true.

"– with a message of hope –

Again, probably quite true.

Image: Clearly hopeful (Wikipedia Screenshot)

– and optimism.”

Ah.

Image: Nigel Farage in front of a poster showing immigrants who are definitely not European (Getty)

He continues: “If the little people, if the real people–”

Wait, what?

Why is Trump nodding sagely at this?

The little people?

Image: It's a plane with the name Trump on it (Wikimedia Commons)

THE LITTLE PEOPLE?

Image: It's the word Trump on the side of a skyscraper I can't cope with this (Pixel)

THE ONLY LITTLE PERSON CLOSE TO TRUMP IS RIDING A MASSIVE STUFFED LION

Image: I don't even know what to tell you. It's Trump and his wife and a child riding a stuffed lion. 

IN A PENTHOUSE

A PENTHOUSE WHICH LOOKS LIKE LIBERACE WAS LET LOOSE WITH THE GILT ON DAY FIVE OF A PARTICULARLY BAD BENDER

Image: So much gold. Just gold, everywhere.

HIS WIFE HAS SO MANY BAGS SHE HAS TO EMPLOY A BAG MAN TO CARRY THEM

Image: I did not even know there were so many styles of Louis Vuitton, and my dentists has a lot of old copies of Vogue.

Anyway. Back to Farage, who is telling the little people that they can win "against the forces of global corporatism".

 

Image: Aaaaarggghhhh (Wikipedia Screenshot)

Ugh. Okay. What next? Oh god, he's telling them they can have a Brexit moment.

“... you can beat Washington...”

“... if enough decent people...”

“...are prepared to stand up against the establishment”

Image: A screenshot from Donald Trump's Wikipedia page.

I think I need a lie down.

Watch the full clip here:

Stephanie Boland is digital assistant at the New Statesman. She tweets at @stephanieboland