In a filing Monday in federal court in Manhattan, Fabrice Tourre, the Goldman Sachs & Co. trader, denied allegations by the SEC that he made materially misleading statements or omissions in a 2007 deal involving subprime mortgages. Among several defenses to the charge, the filing said the claims against him are based on information "known to many different Goldman Sachs employees," including in the legal and compliance departments.
July 22, 2010 at 12:00 AM
1 minute read
Fabrice Tourre, the Goldman Sachs & Co. trader, has chosen a novel defense against federal regulators accusing him of fraud. He is blaming the in-house lawyers.
In a filing Monday in federal court in Manhattan, the self-described “Fabulous Fab” denied allegations by the Securities and Exchange Commission that he made materially misleading statements or omissions in a 2007 deal involving subprime mortgages.
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