Saturday, 28 March 2015
Last updated 11 hours ago
Aug 9 2010 | 1:29pm ET
His employers could hardly have been more eager to settle the fraud case against them, but Fabrice Tourre, the only individual named in the Securities and Exchange Commission lawsuit against Goldman Sachs, appears ready to fight the charges in court.
A lawyer for the Securities and Exchange Commission said that the two sides have had only “preliminary” discussions about a settlement. Tourre is charged with misleading investors in a collateralized debt obligation allegedly structured and marketed on behalf of hedge fund Paulson & Co. Goldman settled similar charges last month for $550 million without admitting any wrongdoing but acknowledging “mistakes” in the CDO’s marketing material.
Tourre, a vice president at Goldman, is currently on leave from the firm. He was the pointman on the controversial CDO, and counted Paulson among his clients.
“I would characterize us as having very preliminary discussions a while back and that’s all,” Lorin Reisner, the SEC lawyer, said today.
The SEC said it was ready to turn over nearly one million documents in the case to Tourre’s lawyers, who said they would need nine months to review them. The SEC plans to depose 25 people in the case; Tourre’s side as many as 50.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…