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Jesse Litvak Will Serve His House Arrest In Federal Prison

The slipperiest naughty bond trader around is going away for a bit.

For the second time in four years, Jesse Litvak has been sentenced to serve two years in prison. 


Despite wriggling free of his first conviction back in 2014 and then asking nicely to serve his time under house arrest in Boca Raton, Litvak will soon check in as a long-term guest of the federal prison system:

The former Jefferies LLC managing director was an aggressive negotiator when trading mortgage-backed bonds, bending the truth or even falsifying chat transcripts in order to maximize his earnings.
On Wednesday Litvak learned his punishment: two years behind bars and a $2 million fine for lying to a customer about bond prices. Litvak was found guilty at a trial in January -- although on just one of 10 counts -- after his first conviction was reversed on appeal.

Litvak fought the "good" fight but now he'll do his time. Sure, what Litvak did was pretty scummy but you can't hate on a guy with balls heavy enough to sue the guy who turned him in for doing something wildly illegal. They broke the mold with this one.

We look forward to reading his Business Insider column in 2019.

Ex-Jefferies Trader Gets 2 Years for Lying on Prices, Again [Bloomberg]


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