March 7 A federal jury found former Jefferies
Group Inc trader Jesse Litvak guilty of defrauding clients on
mortgage bond trades, a victory for the government as it probes
whether banks cheated their customers in the years after the
Litvak, 39, was found guilty on Friday on all 15 counts he
faced, following 1-1/2 days of deliberations by jurors in the
federal court in New Haven, Connecticut. The trial began on Feb.
Prosecutors accused Litvak of cheating clients out of more
than $2 million by inflating bond prices, lying about how much
Jefferies paid for them, and even inventing imaginary sellers.
They said he did this to boost Jefferies' profit and his own