Ex-Bond Trader Wants Home Stay as U.S. Said to Urge Prison
- Litvak was convicted of 1 of 10 counts after second trial
- Lawyers say government may seek longer sentence than last time
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Former Jefferies & Co. managing director Jesse Litvak says he should be spared prison when he is sentenced later this month following his conviction of a single count of fraud -- a crime the government says is worth jail time.
A federal jury in Connecticut found Litvak guilty in January of defrauding customers on trades of mortgage-backed securities, but on only one of 10 criminal counts. The circumstances surrounding sentencing have changed "dramatically," his lawyers said in court filings Monday, seeking a term of eight months of home confinement and a $250,000 fine.