Fabulous Fab fraud jury go home

Gavel

Fabulous!

Bloomberg News reports that the jury in the civil fraud trial of Fabrice Tourre, the former Goldman Sachs vice president sued by the Securities and Exchange Commission (SEC) over his role in a failed billion-dollar investment, went home without a verdict after its first day of deliberations.

The jury of four men and five women spent about six hours Wednesday considering the case, in which the SEC claims Tourre misled participants in a 2007 transaction known as Abacus. The SEC claims Tourre hid the role of hedge fund Paulson & Co. in selecting the subprime mortgage bonds behind the investment, then made a $1 billion bet they’d fail.

'I want you to go talk to each other about this case,' U.S. District Judge Katherine Forrest told jurors after instructing them in the law to apply to the case. 'Good luck.'

The jury will reassemble to continue deliberations Thursday at 9:30 a.m (GMT+0100).

To access the full Bloomberg article hit the link below.

Tourre Jury Done After First Day of Fraud Deliberations

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