Former Nomura VP sentenced

Matthew Hinds, a former vice president of Nomura, has received a seven-year prison sentence for frauds that cost other businesses £50m. His accomplice, Ganendran Subramaniam, was given 11 years. The two men set up a scheme that involved creating false documents to obtain mortgages that they used to buy London real estate. Hinds was reported to police by his employer in 2007, when Nomura was contacted by a recipient of a false document on the bank’s letterheaded paper.