Ex-trader convicted of defrauding bailout program
NEW HAVEN, Conn. (AP) - A former investment banker has been convicted in Connecticut of defrauding investment funds established as part of the government's response to the financial crisis.
The U.S. attorney's office says a jury in New Haven convicted Jesse Litvak on Friday of securities fraud, Troubled Asset Relief Program fraud and making false statements to the federal government. Prosecutors say he defrauded bailout funds and private investment funds of more than $2 million.
Litvak's attorney denied the allegations, saying his client sold bonds at great prices to sophisticated buyers. He says Litvak engaged in typical sales tactics, followed company rules and that the government couldn't prove any losses.
Litvak, of New York City, was a registered broker-dealer and managing director at Jefferies & Co. Inc. who worked on the company's trading floor in Stamford.
Conn. marijuana firm allowed to keep state license
HARTFORD, Conn. (AP) - Connecticut's consumer protection commissioner is allowing one of four medical marijuana producers to keep its license despite recently learning that its former production manager had previously lost a local license to run a marijuana facility in Colorado.
In a letter released Friday to David Lipton, the CEO of Advanced Grow Labs LLC, William Rubenstein (ROO'-bin-shtyn) said the agency determined after a "factual review" that the company's principals were "equally misled" by John J. Czarkowski.
Rubenstein contends the company had conducted a thorough background check on Czarkowski, who did not disclose to state officials that he and his wife were forced to shut down their Boulder, Colo., medical marijuana dispensary and cultivation facility in 2012 due to numerous violations.
Rubenstein credited Advance Grow Labs with immediately severing its ties with Czarkowski.
Foley focusing on Conn. cities in governor bid
HARTFORD, Conn. (AP) - The Republican candidate for Connecticut governor in 2010, Greenwich businessman Tom Foley, says he's focusing on urban issues in his latest gubernatorial bid.
He appeared Friday at a news conference where an urban policy report was released by The Connecticut Policy Institute, a think tank Foley founded. While Foley called the report's recommendations "a good start," he said he's talking with urban residents to determine how they want to address crime, housing, employment and education issues.
Foley, who narrowly lost to Democratic Gov. Dannel P. Malloy, acknowledged he didn't spend much time in the cities during his last race.
This week's Quinnipiac (KWIHN'-ih-pee-ak) University Poll showed Foley and Malloy, who has yet to announce his re-election plans, in a dead heat. Foley also leads his fellow Republican contenders.
WOMEN ON SUBMARINES
Navy to survey women on interest in submarine duty
GROTON, Conn. (AP) - A survey to be issued soon to female sailors across the Navy is designed to measure the level of interest in serving aboard submarines.
The responses will help guide the work of a panel led by Groton, Conn.-based admiral charged with developing options for integrating the undersea force.
The Navy reversed a ban on women in submarines in April 2010, and female officers are already serving on some submarines.
The panel led by Navy Rear Adm. Kenneth Perry is developing options for the integration of enlisted ranks as early as 2016.
A Navy spokesman, Lt. Timothy Hawkins, said the propensity for women to serve is one issue the panel is exploring along with others including modifications that might be required to the submarines and possible changes in recruiting.
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