Mortgage-Backed Security

Jefferies trader Litvak may win reversal of rare fraud conviction 

In an unexpected turn of events, former Jefferies & Co. Managing Director Jesse Litvak has a good chance of overturning his conviction for defrauding mortgage bond investors after the 2008 financial crisis. Litvak is the only person convicted of fraud in relation to the $20 billion U.S. Treasury Department’s Troubled Asset Relief Program.