Search
 

Is Lying in Negotiations a Crime?

Security trader contends his fraud conviction means false comments during negotiationsabout anything from prices, quotas, and time pressure, to "shared love of a sports team"are felonies.

By Chris Dolmetsch, Bloomberg | Updated on November 19, 2014

Former Jefferies & Co. managing director Jesse Litvak warned an appeals court that his conviction for securities fraud could be used to ensnare the car salesmen he was compared to at the time of his arrest.

Litvak, who was found guilty in March of lying to customers about the price of mortgage-backed securities, yesterday asked the U.S. Court of Appeals in Manhattan to throw out the conviction, saying it could be used to turn “garden-variety statements” made in all kinds of negotiations into the basis for criminal charges.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.