Tokyo-based Nomura Holdings funneled hundreds of millions of dollars in trades for hedge fund Glen Point Capital that are now at the center of US criminal charges against its co-founder Neil Phillips, according to people familiar with the matter.
Prosecutors said Thursday that Phillips, 52, worked with a Singapore-based employee of an unidentified firm to arrange some $725 million in currency swaps as he sought to manipulate rates. The company, known only as Bank-3 in the indictment, is Nomura, according to the people, who requested anonymity as the details are private.
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