U.S. Securities and Exchange Commission Latest News: Ex-Goldman Trader Found Liable on 6 of 7 Counts in SEC Case

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U.S. Securities and Exchange Commission Latest News: Ex-Goldman Trader Found Liable on 6 of 7 Counts in SEC Case

U.S. Securities and Exchange Commission Latest News: Ex-Goldman Trader Found Liable on 6 of 7 Counts in SEC Case
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U.S. Securities and Exchange Commission Latest News: Ex-Goldman Trader Found Liable on 6 of 7 Counts in SEC Case

by Wochit 1:21 mins

A New York City jury has found that a former Goldman Sachs trader Fabrice Tourre is liable in a massive mortgage securities fraud case. Tourre was found liable in six of seven SEC fraud claims. He faces potential fines and a possible ban from the financial industry. The exact punishment will be determined at a future proceeding. Jurors began deliberating over whether to hold former Goldman Sachs Group Inc trader Fabrice Tourre liable for defrauding investors in a complex deal tied to subprime mortgages. A federal judge in New York dispatched the five women and four men on the jury to consider the fate of Tourre, 34, who for more than three years has fought against U.S. Securities and Exchange Commission claims he misled investors in a deal called Abacus 2007-AC1. In addition to the news that the Surface line of tablets brought in a lower-than-expected $853 million in fiscal-year revenue, Microsoft explained its declining incomes from the sale of Windows to original equipment manufacturers.

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