Goldman’s Tourre To Fight SEC Charges On Firm’s Dime

Jul 19 2010 | 2:48pm ET

Fabrice Tourre, the Goldman Sachs vice president who handled the collateralized debt obligation that landed the firm in hot water with regulators, appears poised to fight the fraud charges against him.

Tourre will file a response to the Securities and Exchange Commission fraud charges against him today. Paulson & Co., the hedge fund that Goldman allegedly structured and marketed the CDO on behalf of, was a client of Tourre’s.

Tourre was the only Goldman employee named alongside the firm in the SEC’s lawsuit. Goldman was also set to file its response today, but settled the charges last week for $550 million.

Tourre is not close to settling the SEC charges, The Wall Street Journal reports.

Goldman is paying Tourre’s legal bills. Tourre is currently on administrative leave from the firm.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

Securities and Exchange Commission Chair Mary Jo White will step down as chair of the nation’s Wall Street overseer in January, setting the stage for a potential conservative shift in the regulator’s leadership under the incoming Donald Trump administration.