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

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