Second Circuit Again Reverses Fraud Conviction of RMBS Trader Litvak. A jury convicted Litvak on a single count of securities fraud, for a transaction with an investment manager in which he told the customer’s representative that he had purchased the bond for $79.67, when in fact he had purchased it for $79.50.
Former RMBS Trader Convicted of Securities Fraud after Retrial. LITVAK has been released on bond since his arrest on January 28, 2013. On March 7, 2014, LITVAK was convicted after trial of 10 counts of securities fraud, one count of TARP fraud and three counts of making false statements to the government.
· The tale of Jesse Litvak may finally be moving toward an ending, as a federal jury on Friday found the former Jefferies managing director and mortgage-backed securities trader guilty on one count of fraud. It’s a significant difference from Litvak’s previous conviction, when a jury found him guilty on 15 counts of fraud.
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· U.S. prosecutors dealt dual setbacks in mortgage bond fraud crackdown FILE PHOTO: Former Jefferies Group bond trader Jesse Litvak walks.
· The 2nd U.S. Circuit Court of Appeals in New York overturned former jefferies group trader jesse Litvak’s second criminal conviction for defrauding a customer about bond prices, saying jurors had wrongly been allowed to hear irrelevant evidence. Shortly after the court ruling, a federal jury in
· A federal appeals court on Tuesday rejected former Jefferies Group mortgage bond trader Jesse Litvak’s request to stay out of prison while.
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· Jesse Litvak was ecstatic. It was March 31, 2010, and the mortgage bond trader at Jefferies & Co. had just persuaded Michael Canter, head of securitized assets at from giant asset manager Alliance Bernstein, to bite on the purchase of millions of dollars in mortgage bonds.
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Former Jefferies Group LLC bond trader Jesse Litvak, 39, was convicted last month of securities fraud for lying to clients about what he charged them to trade mortgage bonds. Other banks including New.
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In March 2014, Litvak was found guilty of lying to clients about mortgage-backed securities and received a two-year prison sentence for 10 counts of securities fraud, one count of defrauding TARP, and four counts of making false statements within the jurisdiction of the United States government.