Mortgage bond trader Jesse Litvak convicted of fraud, again

Part of Litvak’s fraud targeted participants in the Public-Private Investment Program (PPIP), a TARP initiative designed to invigorate a moribund mortgage debt market, prosecutors said.

(Reuters) – U.S. prosecutors have recommended that Jesse Litvak, the former Jefferies Group Inc trader convicted of defrauding investors in mortgage bond trades after the financial. including 10.

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A jury convicted Litvak of one count of securities fraud in January for lying to about the price he paid for a bond backed by home loans when he sold it to another investor. The former trader has.

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Jesse Litvak is a former managing director and mortgage-backed securities trader who worked. In January 2017 a jury found Litvak guilty of just one of the previous ten charges. On April 26, 2017 a federal judge in. "Mortgage bond trader Jesse Litvak sentenced to two years for fraud.again". Retrieved 2017-04- 27.

 · Jurors convicted Litvak in 2017 on only one of the 10 securities fraud counts he faced, and he was sentenced to two years in prison. The latest appellate ruling left open the possibility that prosecutors could choose to put Litvak on trial for a third time.

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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.

Mortgage Bond Trader Convicted of Fraud in Rare Ruling. | March 9, 2014. By Jacob Gaffney. In the financial services industry, rogue trading individuals are rarely convicted. That fact is of little solace to former mortgage bond trader Jesse Litvak right now.

Former Jefferies Group bond trader Jesse Litvak Photo: MIKE. fraud related to the sale of residential mortgage-backed bonds and has been.

Former Jefferies Group trader Jesse Litvak can recoup a $1.75 million fine after the Second Circuit reversed his trial conviction for allegedly defrauding a U.S. government program designed to aid.

 · A federal appeals court on Tuesday rejected former Jefferies Group mortgage bond trader Jesse Litvak’s request to stay out of prison while.