Business

As Fab jury gets case, 2 counts the biggest danger

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As the jury weighs the fate of former trader Fabrice Tourre, two counts of the Securities and Exchange Commission case against the ex-Wall Streeter are being focused on by lawyers watching the case.

Counts one and three of the seven-count complaint against Tourre, these lawyers tell The Post, are the easiest for which to find the former Goldman Sachs trader liable.

The two counts charge Tourre with negligence in misleading investors.

For the federal court jury to find Tourre liable for the other five counts, it would have to find that in 2007 he knowingly misled investors in the $1 billion mortgage back security known as Abacus.

The jury is now working through its first day of deliberations.

Tourre, who in emails to his girlfriend described himself as “Fabulous Fab,” is facing seven counts of fraud.

The easier counts to find Tourre liable for include the SEC rule in Section (a)2, which prohibits obtaining money or property by means of any untrue statement of a material fact or any omission to state a material fact.

The key question there is that what the jurors consider “material” or important information in Tourre’s specific case.

The other component of the section, rule (a)3, would see him found liable for engaging in “any transaction, practice, or course of business which operates or would operate as a fraud or deceit.”

mark.decambre@nypost.com