Tourre Found Liable in $1 Billion CDO Fraud Case

Tourre Found Liable in $1 Billion CDO Fraud Case Play

Aug. 1 (Bloomberg) -- Fabrice Tourre, the former Goldman Sachs Group Inc. vice president on trial for his role in a failed $1 billion investment tied to the housing collapse, was found liable on six of seven claims by a jury in Manhattan. The Securities and Exchange Commission accused Tourre of intentionally misleading participants in a 2007 deal known as Abacus about the role played by Paulson & Co., the hedge fund of billionaire John Paulson. Su Keenan and Trish Regan report on Bloomberg Television's "StreetSmart." (Source: Bloomberg)

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