`Fabulous Fab' Prepares to Testify in Fraud Trial

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July 24 (Bloomberg) -- Bloomberg's Su Keenan sets the scene as former Goldman Sachs vice president Fabrice Tourre is set to testify this afternoon in a Manhattan court in a move that may make or break the case against him. She speaks on Bloomberg Television's "Market Makers."

-- legal observers say the entire case could turn on this a former goldman trader is expected to argue he is a scapegoat in bond deal gone bad.

He arrived early this morning something ready to tell his story.

I'm going to testify.

The defense is expected to present a strategy that were trays him as a cog in the wheel of a much larger machine.

The sec claims he misled investors in a deal called abacus.

The sec made strong points yesterday with its star witness.

She testified that goldman did nothing to correct her misperceptions that billionaire john paulson was an investor in abacus when in fact he was actually betting it would fail.

The defense hammered away at schwartz's credibility, suggesting they were well aware that many hedge funds were betting against the mortgage market.

Schwartz answered she did not recall many of the documents.

The jury appearing somewhat confused and struggling to deal with these inside baseball terminologies.

Do we know for sure whether or not he has to testify.

Can he plea the fifth?

This is different from a criminal proceeding or you can plead the fifth.

In a civil file -- in a civil trial, you you are expected to testify.

We do know that he did testify before in front of the senate.

Su keenan, thank you very much.

This text has been automatically generated. It may not be 100% accurate.


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