Former Nomura Securities Trader Granted Retrial Over RMBS Conspiracy Charge

[kreslik.news]

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 retrial is a result of a similar case that took place last month regarding a former Jefferies RMBS trader. Jesse Litvak was convicted of securities fraud for lying to counterparties about the amount he had paid for mortgage-backed bonds.

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