Former Jefferies & Co. Managing Director Jesse Litvak was convicted in the only criminal case against an individual in connection with a U.S. program that used bailout funds to spur investment in mortgage-backed securities.
Former Jefferies & Co. trader Jesse Litvak lied to customers in order to increase his profit, a prosecutor told a jury in the only fraud case against an individual in connection with a U.S. program that used bailout funds to spur investment in mortgage-backed securities.
Former Jefferies & Co. managing director Jesse Litvak ended his defense without testifying in his trial on charges that he defrauded customers out of more than $2 million in trades of mortgage-backed securities.
People working for the U.S. Securities and Exchange Commission who owned stock in companies under investigation were more likely to sell shares than other investors in the months before the agency announced it was taking enforcement actions, according to a new academic paper.
A colleague of former Jefferies & Co. bond trader Jesse Litvak, who is on trial in Connecticut for fraud in the trading of mortgage-backed securities, testified that it’s against the firm’s policy to lie to clients.
Customers of former Jefferies & Co. managing director Jesse Litvak told a jury during his fraud trial that they still got good deals on the bonds they bought through him even with his alleged misrepresentations.
Former Jefferies & Co. managing director Jesse Litvak defrauded investors of $2 million using a U.S. bank bailout program to earn illegal profit for the firm, prosecutors said at the start of his trial.