Home

Jefferies Group LLC, MBS Fraud, and Arrests
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Jefferies Group LLC is an American global investment bank and institutional securities firm headquartered on Madison Avenue in New York. Jefferies Group has coverage groups spanning across all industries including Aerospace & Defense, Business Services, Consumer & Retail, Energy, Financial Institutions Group, Financial Sponsors, Gaming & Leisure, Healthcare, Industrials, Maritime, Media, Public Finance, Real Estate & Lodging, Technology, and Telecommunications.

In addition to financial advisory services, the firm also provides investors fundamental research and trade execution in equity, equity-linked, and fixed income securities, including corporate bonds, United States government and agency securities, repo finance, mortgage- and asset-backed securities, municipal bonds, whole loans, and emerging market debt, as well as commodities and derivatives. In addition, Jefferies provides asset management services and products to institutions and other investors.

  
What
Where


November 12, 2012, Jefferies announced its merger with Leucadia, its largest shareholder. Jefferies was valued at $3.8 billion at the time of the acquisition, then becoming Jefferies Group LLC. The investment bank has agreed on a $25 million deal to settle with regulators after suspected trading abuse involving mortgage-backed securities after the financial crisis. The deal includes a non-prosecution agreement with the U.S. Attorney’s Office in Connecticut. According to Bloomberg News Jefferies Group will pay $11 million to counterparties affected in the trades, $10 million to the U.S. Attorney’s Office and $4 million to resolve a parallel investigation by the Securities and Exchange Commission, which remains subject to the agency’s final approval.

A spokesman for the U.S. Attorney’s Office in Hartford, Thomas Carson, declined to comment. Jesse Litvak, Ex-Jefferies & Co. Managing Director was arrested in January 2013 over charges that he defrauded customers of more than $2 million on trades of residential mortgage-backed securities from 2009 to 2011. Wall Street Journal reported that in a court filing, Mr. Litvak’s lawyers said the investors he is alleged to have deceived were all “sophisticated market participants” capable of analyzing bonds to determine reasonable prices to pay.

Image Credit: Businessweek

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

RELEVANT JOBS

Associate Attorney

USA-PA-Exton

ASSOCIATE ATTORNEY McKenna Snyder LLC, a law firm in Exton, PA has an immediate opening for an ex...

Apply now

Attorney

USA-MI-Sturgis

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Attorney

USA-MI-Coldwater

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Deputy General Counsel / Senior Deputy General Counsel

USA-CA-Sacramento

Cal Cities Culture and Mission Cal Cities is dedicated to creating a collaborative and inclusive ...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Education Law Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with ...

Apply Now

Education Law Attorney

USA-CA-Carlsbad

Carlsbad office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with 4-...

Apply Now

Education Law and Public Entity Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law and public ent...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top