SEC Eyes Feds' Bid To Force Ex-Nomura Trader To Pay $1.2M

By Pete Brush (May 25, 2021, 5:09 PM EDT) -- The outcome of prosecutors' effort to force ex-Nomura trader Michael Gramins to pay $1.2 million for allegedly scheming to trick real estate bond buyers will impact how securities regulators seek to resolve their companion case, a Manhattan federal judge was told Tuesday.

Counsel for the U.S. Securities and Exchange Commission told U.S. Magistrate Judge Robert W. Lehrburger the agency is watching Connecticut federal prosecutors' restitution fight with Gramins, which is playing out before New Haven U.S. District Judge Robert N. Chatigny.

"The commission typically takes into account the relief ordered in a criminal matter," SEC counsel Alfred Day said, citing the...

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