NEW YORK — A former Goldman Sachs trader who earned the nickname "Fabulous Fab" was found liable on August 1 in a fraud case brought by federal regulators in response to the 2007 mortgage crisis that helped push the country into recession.
A jury reached the verdict during the civil trial in federal court of Fabrice Tourre — a French-born Stanford graduate. Tourre, 34, was found liable in six of seven U.S. Securities and Exchange Commission fraud claims. He faces potential fines and a possible ban from the financial industry. The exact sentence will be determined later.
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