Tag: RBS Securities

Former Financial Advisor, Matthew Katke, Pleaded Guilty

According to the Department of Justice, Matthew Katke (CRD No. 4679645) pleaded guilty to conspiracy to commit securities fraud in Hartford, CT Federal Court for his alleged participation in a multimillion dollar securities fraud scheme. Katke was registered with RBS Securities, Inc. (RBS Securities), during the time of the DOJ’s investigation. Katke was associated with Nomura Securities International, Inc. from August 2013 until April 2015.

The Department of Justice alleged that between April 2008 and August 2013 Katke was a managing director at RBS Securities in Stamford, Connecticut. Katke and other members of RBS’s Asset Backed Products division traded fixed income investment securities in residential mortgage-backed securities (RMBS) and collateralized loan obligations (CLOs) through RBS trading floor. Katke admitted in his guilty plea that he and others conspired to increase RBS’s profits on CLO bond trades at the expense of their own customers by, among other things, making misrepresentations to induce customers to pay inflated prices and telling customers to accept deflated prices for CLO bonds. Furthermore, Katke misrepresented the CLO seller’s asking price to the buyer and kept the difference between the price paid by the buyer and the price paid to the seller for RBS. In another device used by Katke he misrepresented to the CLO buyer that bonds held in RBS’s inventory were being offered for sale by a fictitious third-party seller invented by Katke, which allowed Katke to charge extra commission. The Department of Justice’s investigation found several fraudulent transactions that cost at least 20 victims millions of dollars.

Matthew Katke was an active broker for 11 years with the following member firm(s):

CRD # 4297
8/2013 – 4/2015

CRD # 11707
7/2008 – 6/2013

CRD # 79
8/2003 – 7/2008

If you have suffered investment losses as a result of your broker’s or brokerage firm’s misconduct, contact the Hanley Law to discuss your legal options. The Hanley Law is dedicated to helping investors who have been victims of securities fraud. If you have lost money as a result of securities fraud, you may be entitled to recover your investment losses. Contact our office toll free at (239) 649-0050 for a free initial consultation.