SEC, U.S. Attorney charge three former Nomura RMBS traders with fraud

are a fireman, policeman, school teacher, government employee, electrical, plumbing or General Union member… and your state or union would even remotely consider investing your pension funds with these animals?! You’ve got to be kidding!!! Speak up, speak out and investigate where your funds are invested.

Justice League

The Securities and Exchange Commission and the U.S. Attorney’s Office for the District of Connecticut are charging three former Nomura Securities Internationalresidential mortgage-backed securities traders with fraud, accusing the trio of “repeatedly lying” to customers about the pricing information of mortgage bonds and defrauding customers of millions of dollars.

The SEC alleges that while employed as RMBS traders at Nomura, Ross Shapiro, Michael Gramins, and Tyler Peters misrepresented the bids and offers being provided to Nomura for RMBSs, as well as the prices at which Nomura bought and sold the securitizations and the spreads the firm earned intermediating RMBS trades.

According to the SEC, Shapiro, Gramins and Peters also trained, coached, and directed junior traders at the firm to engage in the same misconduct.

The SEC stated that the actions of Shapiro, Gramins and Peters helped to “illicitly generate” millions of dollars in additional revenue for Nomura.

In a…

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