Ex-RBS trader pleads guilty


A former Royal Bank of Scotland trader pleaded guilty to a fraud scheme in a new thread of the U.S. government’s probe of the securitized debt market.

Bloomberg News reports that Matthew Katke, who agreed to cooperate with prosecutors, pleaded guilty Wednesday to conspiracy to commit securities fraud for participating in a multimillion-dollar scheme to cheat customers who bought and sold bonds, U.S. Attorney Deirdre Daly in Connecticut said in a statement.

Katke traded collateralized loan obligations, securities backed by high-yield corporate debt. The charge against him sprung from his activities while at RBS in Stamford, Connecticut, where he worked before joining Nomura in 2013. He is no longer employed by Nomura, according to a person with knowledge of the matter who asked not to be identified because the decision wasn’t public.

To access the complete Bloomberg News article hit the link below:

Ex-RBS Debt Trader Pleads Guilty in Deepening Bond Probe

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