Ex-Jefferies Trader Beats All But 1 Charge In Fraud Retrial

By Jody Godoy (January 27, 2017, 11:38 AM EST) -- A Connecticut federal jury convicted former Jefferies & Co. trader Jesse Litvak on just one of 10 counts of securities fraud on Friday, largely rejecting the government's argument that Litvak broke the law by hiding his profit margins from buyers of distressed bonds after the financial crisis.

The guilty verdict related to a single mortgage-backed bond deal. After deliberating for around seven days spread out over two weeks, the jury returned not guilty verdicts on the other counts relating to separate transactions. Litvak was accused of duping asset managers in bond purchases and sales — some of them partially funded by...

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