» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X

Forgot your password?
Skip Navigation LinksHome > Article
VOL. 42 | NO. 17 | Friday, April 27, 2018

Appeals court reverses conviction of ex-Wall Street trader

Print | Front Page | Email this story

NEW YORK (AP) — An appeals court in New York says a former Wall Street trader can be released from prison because he was improperly convicted of taking advantage of a government bailout program.

The ruling Thursday by the 2nd U.S. Circuit Court of Appeals frees Jesse Litvak from a two-year prison sentence he was serving after his securities fraud conviction last year.

Authorities say he was the first person convicted of a crime related to the program that used bailout funds in the financial meltdown to restart trading markets for mortgage-backed securities.

It is the second time the appeals court has reversed a conviction of Litvak since he was indicted in 2013. The 2nd Circuit earlier reversed his conviction on charges of securities fraud, Troubled Asset Relief Program fraud and making false statements.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0