(Bloomberg) The cases struck fear into the hearts of Wall Street bond traders, and with reason. They hinged on a simple argument by prosecutors: Traders’ lies are illegal. Yet in a matter of hours on Thursday, two of the higher-profile cases — the bond-market equivalents of trials of the decade — unraveled for federal prosecutors in spectacular fashion.
Bond-Trader Crackdown by U.S. Flops With Litvak, Demos Walking Free
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