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2nd Circ. Flips Ex-Jefferies Trader's RMBS Fraud Conviction

Law360, New York (May 3, 2018, 10:07 AM EDT) -- The Second Circuit once again reversed the conviction of former Jefferies Group trader Jesse Litvak on Thursday, deciding that a Connecticut federal judge had erred in allowing a residential mortgage-backed securities buyer to testify about his mistaken belief that Litvak was working as his agent when Litvak lied to him during a transaction.

Former Jefferies Group trader Jesse Litvak, center, who began serving a two-year sentence in September, has been ordered freed from prison after the Second Circuit reversed his conviction for securities fraud and remanded the...
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