Law360, New York (September 01, 2011, 12:56 PM ET) -- Goldman Sachs Group Inc. executive Fabrice Tourre on Wednesday sought to bring two Jersey, U.K.-based companies into the U.S. Securities and Exchange Commission’s suit in New York alleging he created a subprime securities product that was rigged to fail.
Tourre is accused of orchestrating the design of Abacus 2007-AC1, a collateralized debt obligation created largely using highly risky mortgage-backed securities, for the benefit of hedge fund Paulson & Co. Under a parallel credit-default swap deal, the hedge fund stood to reap huge rewards if Abacus tanked....
Goldman's Tourre Wants Jersey-Based Firms In On SEC Suit
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