Nomura’s ‘NFL Scout’ Clients Saw Through Trader Lies, Jury Told

No one disputes that former Nomura senior trader <-bsp-person state="{"_id":"00000180-9513-d12e-a5cf-f777d1690000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">James Im lied to his customers. The question for the jurors weighing his liability is whether anyone believed and acted on those lies.

Im’s lawyer told the jury in his closing argument Thursday that it’s standard industry practice to stretch the truth and that <-bsp-bb-link state="{"bbHref":"bbg://securities/8604%20JT%20Equity","_id":"00000180-9513-d12e-a5cf-f777d16a0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Nomura Holdings Inc.‘s clients, as sophisticated investors, weren’t fooled for a minute.

“They’re the wine sommeliers of the investment world,” defense attorney <-bsp-person state="{"_id":"00000180-9513-d12e-a5cf-f777d16c0000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Matthew Ingber told the panel in federal court in Manhattan. “They know the vineyard, they know the grape, the soil, the value of the wine, ...