Thursday, 23 March 2017
Last updated 36 min ago
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.