SEC Brands Tourre A Liar And Fraud In Closing

Law360, New York (July 30, 2013, 6:35 PM EDT) -- A U.S. Securities and Exchange Commission lawyer urged jurors Tuesday to find former Goldman Sachs Group Inc. trader Fabrice Tourre liable for fraud, saying in closing arguments that he withheld information from investors then lied on the stand.

SEC lawyer Matthew Martens told the nine-member jury that Tourre deserved to be held accountable for his role in crafting Goldman’s Abacus 2007-AC1, a 2007 collateralized debt obligation made up of bundled residential mortgage-backed securities.

The commission claims Tourre, the so-called “deal captain” on the transaction, failed to...
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

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.