1 August 2013 Last updated at 15:59 ET
Former Goldman Sachs trader Fabrice Tourre has been found liable in a civil fraud case by a New York jury.
Jurors found that the trader, who nicknamed himself "Fabulous Fab", had defrauded investors in the run up to the global financial crisis in 2008.
A complex mortgage deal he was involved in cost investors $1bn (£661m) when it failed.
Tourre was found liable in six of the seven fraud claims brought by US financial regulators.
Source: BBC News - Business http://www.bbc.co.uk/news/business-23543441#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
