Nomura blasts U.S. agency's case as $1 bln mortgage bond trial closes

April 9, 2015 5:49 PM

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NEW YORK, April 9 (Reuters) - A lawyer for Nomura Holdings Inc argued Thursday that a U.S. regulator relied on "voodoo science" in suing the bank for making false statements in selling $2 billion in mortgage-backed securities to Fannie Mae and Freddie Mac.

David Tulchin, Nomura's lawyer, urged a Manhattan federal judge to reject the Federal Housing Finance Agency's bid to make the Tokyo-based bank and Royal Bank of Scotland Group Plc pay $1.1 billion over securities they sold ahead of the 2008 financial crisis.

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