Recently, a New York City man working as a broker/dealer in Stamford, Connecticut, has been charged with securities fraud, according to a news release from U.S. Attorney David B. Fein’s office.

Jesse Litvak, 38, while working in the Stamford office of Jefferies & Co., is suspected of scheming to defraud by misrepresenting transactions either with the seller’s asking price to the buyer, or the buyer’s price to the seller, the release said. The difference in the price paid would be kept for Jefferies, the release said.

The release also said that he is suspected of misrepresenting bonds to buyers in Jefferies inventory by offering them for sale by third parties he made up, the release said. If he did this he was then able to charge the buyer an extra commission, the release said.

Jesse Litvak is suspected of doing this with residential mortgage-based securities, and allegedly defrauded six Securities Public-Private Investment Program funds and multiple private funds for $2 million, the release said. Litvak was also was charged with 11 counts of securities fraud, one count of Troubled Asset Relief Program fraud, and four counts of making false statements to the federal government, the release said.

If you feel you have been involved in this or any other rip-off to the investors by broker/dealers, call Lars Soreide of Soreide Law Group, PLLC, for a free consultation on how to potentially recover your losses. To speak with an attorney call 888-760-6552, or visit our website and complete our online form at: https://www.securitieslawyer.com.