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Stock Market & Financial Investment News

News Breaks
January 28, 2013
19:40 EDTJEFFormer Jefferies executive charged by SEC with mortgage-backed securities fraud
The Securities and Exchange Commission charged a former executive at New York-based broker-dealer Jefferies (JEF) with defrauding investors while selling mortgage-backed securities so he could generate additional revenue for his firm. According to the SECís complaint filed in federal court in Connecticut, Jesse Litvak arranged trades for customers as part of his job as a managing director on the MBS desk at Jefferies. The SEC alleges that Litvak generated more than $2.7M in additional revenue for Jefferies through his deceit. Reference Link
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