A former senior trader at Nomura Holdings Inc. lied to customers about bond prices to boost the bank’s profits and his own bonus, the SEC said in court.
James Im, a Nomura managing director who headed trading in commercial mortgage-backed securities from 2009 to 2014, went on trial Wednesday in Manhattan. A 2017 Securities and Exchange Commission suit accused Im of misrepresenting prices to clients who sought to buy and sell CMBS on the secondary market.
“This case is about lies,” SEC lawyer Ladan Stewart said during opening statements. “Lies told by the defendant, James Im, a Wall Street ...
