Banker Matthew Hinds, (36) and his accomplice, Ganendran Subramaniam, (34) were both found guilty at Southwark Crown Court, after the court heard how they had deceived companies and banks in the UK and US to secure large loans.
Subramaniam was sentenced to 11 years in prison.
Before his involvement with Hinds, the court heard how Subramaniam had made a deposit on the purchase of a shell company called Astrobridge in 2007.
Shortly after, he teamed up with Hinds at Nomura to obtain commercial mortgages worth ‘tens of millions’ to buy properties in London.
Police said that the pair had created false documents on a Nomura letterhead that implied Astrobridge was run by a millionaire commodity trader and that it had an annual turnover of $400m.
Nomura uncovered the scam after it received one of the pairs’ false bank guarantees from a victim, although the owner of Astrobridge was at the time unaware of the fraud.
After an internal investigation the case was referred to the police, where they discovered that both Hinds and Subramaniam had attempted to defraud companies and banks in the US using Nomura documentation.
After an 11-week trial, they were both found guilty of conspiracy to defraud, fraud by misrepresentation and making and supplying articles for fraud.
Steve Head, head of economic crime for the City of London Police, said: “The sentences given to the two defendants demonstrate how seriously the courts are taking incidences of organized fraud.”