SEC Opposes New Trial For Ex-Goldman Trader

Law360, Los Angeles (October 30, 2013, 10:23 PM ET) -- Federal authorities on Wednesday opposed ex-Goldman Sachs Group Inc. trader Fabrice Tourre's request for a new jury trial over his securities fraud conviction, telling a New York federal judge that they had sufficiently shown his key role in a "built-to-fail" financial project.

The U.S. Securities and Exchange Commission claimed it had presented to the jury a false email, a recorded telephone call and other evidence proving that Tourre lied in connection with Abacus 2007-AC1, a synthetic collateralized debt obligation of bundled residential mortgage-backed securities created in...
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