Police Seize $140 Million From Nomura in Sicily Fraud Case
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Police in Italy seized 104 million euros ($140 million) in property and cash as part of a probe into allegations that Nomura Holding Inc. used complex financial products to defraud the regional government of Sicily in the years leading up to the financial crisis.
Japan’s biggest brokerage is accused of carrying out derivatives trades from 2000 to 2006 that cost the Mediteranean island about 175 million euros, police said in an e-mailed statement today. Four Nomura employees at the time are under investigation, along with three other people, said police Colonel Francesco Mazzotta. He didn’t identify the suspects.