Fabrice Tourre was found guilty of defrauding investors while at Goldman Sachs (NYSE:GS) when he was peddling mortgage deals to investors who have proven to be less than smart. He will be fined $650,000 in penalties.
The judge, Katherine B. Forrest of the Federal District Court in Manhattan, further ruled Mr. Tourre had to forfeit $175,463 in bonus that was arguably tied to his work on the mortgage deal, plus 3 percent interest.
They nailed the tricky French guy with the accent because it was easy.
What is Fabrice Tourre doing these days and does he care?
George Gutowski writes from a caveat emptor perspective.