Former Broker from RBS Pleaded Guilty to Investment Fraud

Posted on March 12th, 2015 at 3:18 PM
Former Broker from RBS Pleaded Guilty to Investment Fraud

From the Desk of Jim Eccleston at Eccleston Law LLC:

Matthew Katke, a former registered broker and managing director at RBS Securities Inc., pleaded guilty to participating in a multimillion dollar securities fraud scheme between April 2008 and August 2013.

According to FINRA, Katke and other members of RBS's Asset Backed Products division traded fixed income investment securities, such as residential mortgage-backed securities (RMBS) and collateralized loan obligations (CLOs), at the expense of customers on RBS’s trading floor in Connecticut.

Katke and his co-conspirators made misrepresentations to entice buying customers to pay inflated prices and selling customers to accept deflated prices for CLO bonds, all to benefit RBS.

Those fraudulent transactions made by Katke have cost at least 20 victim customers, including firms affiliated with recipients of federal taxpayer bailout funds through the U.S. Department of the Treasury Troubled Asset Relief Program (TARP), millions of dollars.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: Matthew Katke, FINRA, RBS, Financial advisor

Return to Archive

TESTIMONIALS

Previous
Next

If the regulators are after you, and are trying to make a case against you, and you are going to contest their allegations against you, make sure you have the best securities industry defense lawyers, Eccleston Law Firm. My case was spun into a combination of penalties including fines, cash settlements, CE courses and suspension. They were the best I have seen in action. When all was said and done, they had done their magic, my situation was negotiated and settled with a simple "letter of caution" and a case closed without action. It is the most important legal business decision you will ever make, make it Eccleston Law.

Rick R.

LATEST NEWS AND ARTICLES

October 26, 2021
Former Advisor Fails To Reverse Bar After Alleged $1 Million Theft From RBC

A former RBC Wealth Management advisor lost his bid to reverse an industry bar, according to an appellate decision issued by the Financial Industry Regulatory Authority (FINRA).

October 25, 2021
Firms Walk Thin Regulatory Line In Referring Self-Directed Clients To Advisors

While online trading platforms have surged in popularity during the pandemic, brokerage firms view self-directed investors as a source of new clients.

October 22, 2021
TIAA Sues Former Advisors For Allegedly Soliciting Clients

Teachers Insurance and Annuity Association of America (TIAA) filed suit against three of its former Connecticut advisors for allegedly soliciting TIAA clients to join them at their new firm.