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.
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 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.
Mark Kurland , a co-founder of New Castle Funds LLC, asked a judge to give him probation when he becomes the first defendant sentenced in the Galleon Group LLC insider-trading case that snared Raj Rajaratnam .
Mark Kurland , a co-founder of New Castle Funds LLC, was ordered to serve 27 months in prison after pleading guilty in the Galleon Group LLC insider-trading case, becoming the first defendant in the scheme to be sentenced.
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.