Ex-Jefferies Trader Found Guilty Of TARP Fraud

Law360, New York (March 7, 2014, 4:36 PM EST) -- Former Jefferies & Co. Inc. managing director Jesse C. Litvak on Friday became the first individual to be convicted of Troubled Asset Relief Program fraud when a Connecticut jury found him guilty of a scheme to defraud customers on residential mortgage-backed securities trades.

Following several weeks of trial held before District Judge Janet C. Hall, a jury found Litvak guilty of 11 counts of securities fraud, one count of TARP fraud and four counts of making false statements to the federal government.

Litvak plans to appeal...
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