Mortgage bond trader Jesse Litvak convicted of fraud, again

Litvak’s lawyers countered by requesting a maximum 14-month 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 crisis, be sentenced to nine years in prison and a $5 million fine.

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Mortgage bond trader Jesse Litvak convicted of fraud, again January 27, 2017 RSS FEED No comments 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.

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.

 · 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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