Plan a key witness testified Tuesday in the United States Securities and Exchange Commission in the case, the bond trading in 2007 allegations of misleading investors in the former Goldman Sachs trader 法布里斯图尔.
The SEC has said in court documents, the bond insurer, Laura Schwartz, former executive will testify that Tours told her that hedge fund Paulson & CO INC support transactions. Her testimony was the SEC's case, Tours Tibet Indeed, Paulson & Co., in fact, investors bet trading center.
Tours of the case began last week in New York federal court, the U.S. Securities and Exchange Commission on the events leading to the 2008 financial crisis one of the largest.
According to Paulson, the U.S. Securities and Exchange Commission, Goldman looking for a way to bet against the subprime mortgage market. They came up with $ 200 million U.S. dollars of mortgage-backed securities known as ABACUS 2007-AC1 synthetic collateralized debt tied.
When Goldman Sachs brought on bond insurers ACA Capital Holdings subsidiary, in order to help choose Abacus mortgage-related securities, Tours allegedly misled ACA did not disclose Paulson select toxic securities trading scheme on the bet.
Goldman Sachs Group, which is also a defendant was initially proposed in 2010 in the case, not admitting or denying the allegations of $ $ 5.5 million settlement.
Schwartz, who left ACA in late 2007 and now works in the harbor Group, is the main point of contact with the Tours and Paulson, the U.S. Securities and Exchange Commission said.
She can testify that she understood Paulson would be an abacus and the role of equity investors to understand the ACA's decision to participate in trading, the U.S. Securities and Exchange Commission said.
Tours lawyers have said they will focus on the recently concluded probe by the SEC in a different transaction Schwarz role, Schwartz's credibility questioned.
Schwartz received so-called Wells notice in February that the U.S. Securities and Exchange Commission is considering the proposed transaction exceeds this case to her. Then, a week ago, Tours trial, Schwartz's lawyer informed the Court, the U.S. Securities and Exchange Commission's staff has decided to oppose the case against her.
Monday, the former ACA Chief Executive Alan Rothman said in court, ACA will stop Abacus deal "in its tracks", if Paulson's real role has been known.
Last week, a former executive at Paulson & Co., Paul Pellegrini, testified that he believed he told Schwartz Paulson on the U.S. housing market before the close of trading in Abacus betting strategy.
The case is SEC v. Tours, U.S. District Court, Southern District of New York, No. 10-03229, No..
 



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