A federal appeals court ordered a new trial Tuesday for a former securities trader in Connecticut who was sentenced to two years in prison for allegedly defrauding the government bailout program.

The U.S. Court of Appeals for the Second Circuit, in United States v. Litvack, 14-2902-cr, reversed Jesse Litvak’s conviction on charges he defrauded the United States by making false statements, vacated his conviction on securities fraud charges and ordered a new trial on those counts.