Ex-Jefferies & Co. Managing Director Jesse Litvak, deemed an “elite” fraudster by prosecutors for being the only person convicted of fraud over a $20 billion government bailout program, was sentenced to two years in prison for lying to customers about mortgage-backed securities. Defense lawyers successfully argued their client deserved less […]

An insider-trading probe involving the U.S. House Ways and Means Committee and a top staff member also includes dozens of hedge funds, investment advisers and other firms, the U.S. Securities and Exchange Commission said in a court filing. In arguing against the House’s motion to dismiss the case or send […]

Citigroup announced Monday that it will pay roughly $7 billion to settle a federal investigation into risky subprime mortgages, the type that helped bring on the financial crisis. The bank, one of America’s largest, revealed the deal as part of its quarterly earnings report. At a news conference later, Attorney […]