Tourre Hires New Lawyer For CDO Trial

May 15 2013 | 1:13pm ET

Steven Cohen's ex-wife isn't the only person shaking up her legal team.

Fabrice Tourre, the former Goldman Sachs executive accused of defrauding investors in a Paulson & Co.-linked collateralized debt obligation, has added noted litigator John Coffey to his defense ranks. Coffey succeeds David Esseks, who had to leave the team due to other client commitments, and will serve as co-counsel with Esseks' colleague at Allan & Overy, Pamela Chepiga.

Tourre is fighting Securities and Exchange Commission allegations that he misled investors in ABACUS-AC1 about Paulson's role in creating the CDO. According to the SEC, Paulson, which has not been accused of any wrongdoing, had a hand in selecting the securities that went into the $1 billion CDO, which it would make a killing shorting.

Goldman settled the allegations for $550 million. Tourre's civil trial is set to begin in July.

Coffey is perhaps best-known for having led the legal team that recovered more than $6 billion for investors in the WorldCom bankruptcy. A former federal prosecutor and candidate for New York State attorney general, Coffey now works at litigation finance firm BlackRobe Capital Partners—alongside Chepiga's husband, Michael.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.