Former Nomura RMBS trader found guilty of securities, wire fraud conspiracy

Nearly two years ago, the SEC and the U.S. Attorney’s Office charged three former Nomura Securities residential mortgage-backed securities traders with fraud, alleging that they “repeatedly lied” to customers about the pricing information of mortgage bonds and defrauded customers out of millions of dollars. The three traders went on trial last month, and a jury handed down a verdict this week. All in all, only one was found guilty – and only on one charge. …read more

From:: Real Estate Wire