Litvak's Conviction Reversed Again by Federal Appeals Court
- Former Jefferies trader was convicted of bond trading fraud
- Litvak is serving a two-year sentence in Florida prison
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A federal appeals court once again reversed the conviction of a former Jefferies Group LLC managing director who is serving prison time for lying to customers about the prices of mortgage-backed bonds.
It’s the second time in 2 1/2 years that the federal appeals court has tossed out the conviction of Jesse Litvak. He is currently in the midst of a two-year term in a federal prison camp in Florida. The appeals court ordered him released on bond.