US officials have charged a former senior partner of accounting giant KPMG over alleged insider trading.
Authorities charged Scott London with five criminal and civil charges over claims he gave a golfing partner non-public information, which was used to make share trades.
Mr London was apparently given part of the profit as cash, a Rolex watch and VIP concert tickets to see rocker Bruce Springsteen.
On Thursday, a federal court judge in Los Angeles released Mr London on $150,000 bail (£100,000) and ordered to hand in his passport.
The charges stem from information about five firms given to a long-term friend, jeweller Bryan Shaw, who recorded some conversations and later gave them to the FBI.
The judge also ordered that the former KPMG auditor was not to make contact with Mr Shaw unless in the company of lawyers.
Mr London's lawyer, Harland Braun, said his client intended to plead guilty when he next appears in court, on May 17.
In exchange for the privileged information, Mr London apparently received a share of the share trading proceeds.
Inside information was given on corporations including footwear firm Skechers and nutritional group Herbalife.
KPMG is one of the so-called Big Four audit firms "Had my client been asked to give information for cash, he would have said no," Mr Braun said after the hearing.
"This is that grey area, when you talk at the country club. But once you take money, you're dead."
KPMG chief executive John Veihmeyer said his firm will take legal action against Mr London in the near future.
However, he said there was no reason to believe the financial statements of the companies involved are materially misstated.
"We unequivocally condemn his actions, and deeply regret the impact that his violations of trust and the law have had on our clients and our people," Mr Veihmeyer said.
According to prosecutors, Mr Shaw made about $1m (£640,000) trading on the tips and gave Mr London roughly 10% of his profits.
One gift for Mr London was a Rolex Daytona Cosmograph watch valued in 2011 at $12,000 (£7,800), while another payment he said was $10,000 wrapped into a bundle of $100 bills.
Mr Shaw told the FBI he believed he spent between $25,000 and $45,000 in concert tickets for the two of them, including a Bruce Springsteen VIP event.
Mr London's lawyer disputed the amounts, saying his client only received about $35,000. Mr London has already turned over $7,500 in cash and the Rolex to officials.
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