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Jonathan Skerrett
over 6 years ago by Jonathan Skerrett
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​The U.S. government has urged a federal appeals court not to throw out a former Jefferies Group Inc managing director's conviction for defrauding mortgage bond investors after the financial crisis, which the court had warned it might do. In a Tuesday filing with the 2nd U.S. Circuit Court of Appeals, U.S. Attorney Deirdre Daly of Connecticut said jurors could have reasonably concluded that defendant Jesse Litvak intentionally lied to customers from 2009 to 2011 about trades he handled for them. Daly said the government also presented "overwhelming" evidence that Litvak's lies were material to the U.S. Department of the Treasury, which was trying to bail out the economy through the $700 billion Troubled Asset Relief Program. "The evidence was sufficient for the jury to convict Litvak of securities fraud, TARP fraud, and making false statements," Daly said. She also said jurors were properly instructed on the law.

Jonathan Stempel, Reuters