Items Tagged with 'Jesse Litvak'

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  • SEC joins DOJ in giving up case against mortgage bond trader Jesse Litvak

    SEC abandons pursuit of former Jefferies managing director
    Over the summer, the Department of Justice gave up its five-year pursuit of former Jefferies managing director and mortgage-backed securities trader Jesse Litvak, ending the DOJ’s effort to jail the trader for allegedly lying to customers about mortgage bond trades. And now, the Securities and Exchange Commission has done the same thing.
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  • Feds drop case against bond trader Jesse Litvak

    5-year battle reaches an end
    For bond trader Jesse Litvak, the past five years have been a whirlwind of court cases and even jail time for his role in the financial crisis. Now, however, the federal government announced it is dropping its case against Litvak after two different convictions of fraud were overturned in the federal appeals court.
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  • Jesse Litvak freed: Court overturns mortgage bond trader’s fraud conviction, again

    Court of Appeals reverses Litvak’s conviction for second time
    The government’s five-year push to see former Jefferies managing director and mortgage-backed securities trader Jesse Litvak jailed for mortgage bond fraud is about to fail again, as the Court of Appeals has again sided with Litvak, overturning a lower court’s conviction and ordering Litvak released from jail.
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  • Mortgage bond trader Jesse Litvak convicted of fraud, again

    Found guilty on one count after Appeals Court tossed conviction on 10 counts
    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. tries a second time to convict MBS trader Jesse Litvak

    Appeals court tossed out first conviction
    The U.S. is trying a second time to convict former Jefferies managing director Jesse Litvak. In July 2014, Litvak was sentenced to two years in prison for lying to clients about mortgage-backed securities, but the case quickly turn a turn the opposite direction when an appeals court tossed out his conviction. Here goes round two.
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  • Jefferies trader Litvak may win reversal of rare fraud conviction

    Originally sentenced to two years in prison
    In an unexpected turn of events, former Jefferies & Co. Managing Director Jesse Litvak has a good chance of overturning his conviction for defrauding mortgage bond investors after the 2008 financial crisis. Litvak is the only person convicted of fraud in relation to the $20 billion U.S. Treasury Department’s Troubled Asset Relief Program.
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  • Jefferies Group reaches $25 million MBS settlement

    Linked to investigation in 2011
    Jefferies Group reached agreement with the United States Attorney for the District of Connecticut to pay $25 million to settle an investigation relating to the purchases and sales of mortgage-backed securities that came to light in 2011.
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