Three former Nomura RMBS traders have been charged with conspiracy and fraud offenses in a federal indictment unsealed today in New Haven, Connecticut.
According to the indictment, Ross Shapiro, 41, Michael Gramins, 33, and Tyler Peters, 32, all of New York, New York, supervised the Residential Mortgage Backed Securities (“RMBS”) Desk at Nomura Securities International (“Nomura”) in New York.
The indictment alleges that Shapiro, Gramins, and Peters engaged in a conspiracy to defraud customers of Nomura by fraudulently inflating the purchase price at which Nomura could buy a RMBS bond to induce their victim-customers to pay a higher price for the bond, and by fraudulently deflating the price at which Nomura could sell a RMBS bond to induce their victim-customers to sell bonds at cheaper prices, causing Nomura and the three defendants to profit illegally.
The indictment also alleges that the three co-conspirators trained their subordinates to lie to customers, provided them with the language to use in deceiving customers, and encouraged them to engage in the practice.
The defendants are also alleged to have created fictitious third parties in an effort to increase their profits, and colluded with at least one outside client to deceptively broker trades on their behalf.
The victims of this scheme include funds from around the world, retirement plan providers and a Trouble Asset Relief Program (TARP) fund manager.
This indictment alleges that, for several years, these three defendants handsomely profited by repeatedly lying to Nomura’s customers in violation of federal law.
The indictment was returned on September 3 and unsealed today. Shapiro, Gramins, and Peters are scheduled to be arraigned on September 10 at 10 a.m. before U.S. Magistrate Judge Donna F. Martinez in Hartford.
This case is being investigated by the Federal Bureau of Investigation and the Office of Inspector General for the Federal Housing Finance Agency.
Defendant Information: Ross Shapiro, Michael Gramins, Tyler Peters
Criminal Charges: Conspiracy and fraud offenses
Location: New Haven, Connecticut
Date: September 3, 2015
Outcome: Awaiting arraignment
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Key Facts
- State: Connecticut
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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