2nd Circ. Urged To Uphold Litvak's RMBS Fraud Conviction

Law360, New York (October 11, 2017, 5:59 PM EDT) -- The U.S. Department of Justice asked the Second Circuit on Tuesday to uphold the conviction of former Jefferies Group trader Jesse Litvak, saying a jury had ample evidence to find his lies in residential mortgage-backed securities sales would matter to reasonable investors.

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 argued on appeal that letting the...
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