“Jesse Litvak”的意思、由来-开放百科全书

Jesse Litvak is a former managing director and mortgage-backed securities trader who worked for the brokerage firm Jefferies.

Arrest, criminal charges and exoneration

Litvak, who was arrested in January 2013,^[1] was originally found guilty of lying to clients about mortgage-backed securities in a March 2014 trial, in which he received a two-year prison sentence and 1.75 million dollar fine for 10 counts of securities fraud, one count of defrauding TARP, and four counts of making false statements, including to large institutional investors such as AllianceBernstein and Soros Fund Management.^[2] Litvak's January 2013 arrest was part of a larger government crackdown on sales practices in mortgage-backed securities which also led to the indictment of seven other traders.^[3] Litvak was the first bond trader charged in connection with the TARP program.^[4]

In January 2017 a jury found Litvak guilty of just one of the previous ten charges. On April 26, 2017 a federal judge in Connecticut sentenced Litvak to two years in prison and a two million dollar fine.

On May 3, 2018 the Second Circuit Court of Appeals vacated the conviction for a second time, saying the district court "materially erred".^[5]

Implications for regulators and Wall Street

Litvak's lawyers argued at trial that the governments case was overly-aggressive in sentencing guidelines in order to "compensate for its mostly unsuccessful prosecution of Mr. Litvak," and that in the past, federal regulators had handled similar bond-trading violations with civil penalties and fines and not criminal prosecutions.^[6] On April 26, 2017 The Financial Times reported that the 2014 appeals court decision was a setback for government regulators in their effort to target deceptive sales practices in the market for asset-backed debt.^[4]

Personal life

Litvak lives in Boca Raton, Florida where his wife has a dental practice. Litvak also owns an apartment on Manhattan's Upper East Side and a vacation home in New York's Hamptons.^[3]^[9]

References

1. ^{{Cite news|url=https://www.bloomberg.com/news/articles/2018-04-23/ex-cantor-bond-trader-on-trial-as-defense-assails-profiteers|title=Ex-Cantor Bond Trader Is Accused of Lying While Defense Calls Alleged Victims ‘Profiteers’|date=2018-04-23|work=Bloomberg.com|access-date=2018-04-24|language=en}}
2. ^{{Cite news|url=http://www.housingwire.com/articles/39964-mortgage-bond-trader-jesse-litvak-sentenced-to-two-years-for-fraudagain|title=Mortgage bond trader Jesse Litvak sentenced to two years for fraud…again|access-date=2017-04-27|language=en}}
3. ^¹{{Cite news|url=https://www.bloomberg.com/news/articles/2017-04-26/ex-jefferies-trader-gets-2-years-for-lying-about-bond-prices|title=Ex-Jefferies Trader Gets 2 Years for Lying on Prices, Again|date=2017-04-26|work=Bloomberg.com|access-date=2017-04-27}}
4. ^¹{{Cite web|url=https://www.ft.com/content/ec972816-baff-3980-93e0-2bc2afb40931|title=Subscribe to read|website=www.ft.com|language=en-GB|access-date=2017-04-27}}
5. ^{{Cite news|url=https://www.wsj.com/articles/former-jefferies-trader-litvaks-conviction-is-tossed-out-1525376517|title=Former Jefferies Trader Litvak’s Conviction Is Tossed Out|last=Dulaney|first=Chelsey|date=2018-05-03|work=Wall Street Journal|access-date=2018-05-06|language=en-US|issn=0099-9660}}
6. ^{{Cite web|url=https://nypost.com/2017/04/26/ex-jefferies-trader-jesse-litvak-to-be-sentenced-for-fraud/|title=Ex-Jefferies trader Jesse Litvak to be sentenced for fraud|last=Reuters|date=2017-04-26|website=New York Post|access-date=2017-04-27}}
7. ^{{Cite news|url=https://www.wsj.com/articles/ex-jefferies-bond-trader-jesse-litvak-found-guilty-on-one-count-1485544547|title=Ex-Jefferies Bond Trader Jesse Litvak Found Guilty on One Count|last=Orden|first=Erica|date=2017-01-27|work=Wall Street Journal|access-date=2017-04-27|issn=0099-9660}}
8. ^[Tweaking Chat Trips Up Ex-Jefferies Bond Trader Jesse Litvak], Bloomberg, Jan 2017
9. ^Marry Me!, People, May 2003