New York jurors Thursday ruled that an ex-Goldman Sachs trader nicknamed "Fabulous Fab" defrauded investors in marketing a mortgage-linked security, handing the government a big victory.
Former Goldman Sachs bond trader Fabrice Tourre arrives at Manhattan federal court with his lawyers in the civil fraud case against him, in New York, August 1, 2013. New York jurors on Thursday found Tourre committed fraud by selling mortgage-linked bonds that were likely to fail.
Fabrice Tourre, 34, was found liable on six of the seven counts of fraud alleged by the Securities and Exchange Commission during the two-week civil trial. The jury returned the verdict on the second day of deliberations.
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