At Last, Litvak Gives His Side at Fraud Trial -- Via Expert
- Ex-Jefferies broker’s defense lawyers offer one witness
- Judge schedules closing arguments for Friday in New Haven
This article is for subscribers only.
Former Jefferies LLC managing director Jesse Litvak, on trial for defrauding clients on the price of mortgage bonds, finally got to present the evidence that he believes will keep him out of prison -- testimony from a hand-picked expert witness.
Litvak’s lawyers ended their presentation to the jury Thursday in federal court in New Haven, Connecticut. Although Litvak didn’t testify in his own defense, his lawyers offered an expert witness to explain that bond traders are sophisticated market professionals backed by substantial research capabilities and are likely to be skeptical about statements made about pricing during negotiations. Closing arguments are scheduled for Friday.