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California Jeweler Who Traded A Rolex, Unmarked Envelopes Of Cash For Inside Information Re: Herbalife, Skechers In Pretty Good Spirits For Someone Who Just Plead Guilty To Felony Charges

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Which may or may not have something to do with someone hitting the jackpot this weekend/having big money riding on June's Belmont Stakes. Come on Itsmyluckyday, daddy needs a new source of income/money to cover up to $250,000 in fines!

Jewelry dealer Bryan Shaw pleaded guilty Monday to conspiring to commit securities fraud with former KPMG LLP auditor Scott London, a felony that could land him in prison for up to five years. Mr. Shaw's attorney, Nathan Hochman, said his client felt he made a "stupid" mistake and "pleaded guilty because he is guilty…. he let his common sense run away."

Before the hearing, Mr. Shaw chatted and laughed with his attorney about horse racing outside the Los Angeles courtroom, but appeared solemn during the proceedings...Mr. Shaw's sentencing hearing is scheduled for Sept. 16. The offense carries a maximum sentence of five years in prison, three years on supervised release and up to $250,000 in fines.

Jeweler Pleads Guilty in KPMG Insider-Trading Case [WSJ]