Ex-Jefferies executive charged in mortgage securities fraud

Published January 28, 2013

| Reuters

A former Jefferies Group Inc managing director has been charged with defrauding investors in mortgage-backed securities in the wake of the 2008 financial crisis so that he could make more money for his employer, U.S. investigators said on Monday.

Jesse Litvak was charged with 16 criminal counts, including 11 counts of securities fraud, one count of fraud on the federal Troubled Asset Relief Program (TARP), and four counts of making false statements to the federal government.

The U.S. Securities and Exchange Commission also filed related civil charges against Litvak.

A lawyer for the defendant did not immediately respond to a request for comment.

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