One Nomura trader convicted, one cleared at bond fraud trial

A former Nomura Securities (Nomura) trader has been granted a retrial after being convicted of conspiracy a year ago. Michael Gramins, who used to supervise Nomura’s residential backed mortgage securities (RMBS) desk, is supposed to have lied to a counterparty about the pricing of RMBS trades. The.

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Nomura bond trader fraud trial ends in split U.S. jury verdict.. including six from Nomura, in connection with the bond trading probe.. former Nomura trader Frank DiNucci, and former Royal.

John Lawrence Allen - Bond Broker Fraud Victim A former Nomura Holdings Inc. trader was found guilty of conspiring to lie to clients about mortgage-bond prices, while another was cleared of all charges in a verdict that highlights the challenge of policing fraud in the market.

On April 26, 2017, Judge Janet C. Hall of the United States District Court for the District of Connecticut sentenced Jesse Litvak, a former bond trader, to two years’ imprisonment, a $2 million fine, and three years’ probation after he was convicted in January 2017 of one count of securities fraud.

3 Nomura Traders Accused of Deceiving Customers About. –  · 3 Nomura Traders Accused of Deceiving Customers About Mortgage Bond Prices. in deals brokered by the Nomura traders. In one transaction involving Mr. Shapiro, the S.E.C. said, Nomura made.

U.S. judge throws out Nomura bond trader’s conviction. both convictions won by prosecutors at trial in their 5-1/2-year probe have now been tossed.. that convicted Gramins last June 15 may.

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 · In one case, a federal appeals court, for the second time, tossed the conviction of former Jefferies bond trader Jesse Litvak. The appeals court ruled that the trial judge allowed testimony that.

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On May 3, 2018, a three-judge panel on the Second Circuit Court of Appeals (“Second Circuit”) vacated former bond trader Jesse Litvak’s conviction on one count of securities fraud, holding that the district court erred in admitting testimony from a counterparty concerning that counterparty’s mistaken understanding of Litvak’s role in the sale of residential mortgage-backed securities.

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[14] Of course, Coscia also would be entitled to appellate review if he is convicted at trial. On august 29. canceling orders in one market due to events in a different but related market. A trader.

Hit the link below to access the complete Bloomberg News article: One Nomura Trader Convicted, One Cleared at Bond Fraud Trial. BofA Says $53 Billion Expense Target Is Just the Beginning