Home » Bear Case Scenario » Fabrice Tourre Hangs on Behalf of Goldman Sachs and Mortgages $GS, $XLF, $C, $BAC, $AIG, $WFC, $JPM

Fabrice Tourre Hangs on Behalf of Goldman Sachs and Mortgages $GS, $XLF, $C, $BAC, $AIG, $WFC, $JPM

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.

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