Tourre Did Nothing Wrong, Goldman Exec Testifies

Law360, New York (July 19, 2013, 7:42 PM ET) -- A Goldman Sachs Group Inc. director told jurors Friday that former Goldman trader Fabrice Tourre, who has been accused of fraud, did nothing wrong in connection with the allegedly designed-to-fail Abacus product.

Jonathan Egol, a Goldman managing director who worked on Tourre’s trading desk, testified that Tourre stuck with normal industry practices in his work structuring Abacus 2007-AC1, a collateralized debt obligation that closed in 2007.

The U.S. Securities and Exchange Commission claims the product, a bundle of residential mortgage backed securities, was designed to fail...
To view the full article, register now.



Case Information

Case Title

Securities and Exchange Commission v. Goldman Sachs & Co. et al

Case Number



New York Southern

Nature of Suit



Katherine B. Forrest

Date Filed

April 16, 2010

Law Firms


Government Agencies

Dewey Verdict Watch

Follow our exclusive coverage of the trial of the year:

Click here for the latest