Friday, August 02, 2013
Skimm, The Daily Skimm
Submitted by: Tracey Hawkins

Fabulous Fab Gets Rightly F’d

[Skimm] Fabulous Fab, as he liked to call himself, can now be renamed Fraudulent Fab. Fabrice Tourre, an ex-Goldman Sachs trader, was found liable for fraud by a federal jury. The high profile case brings up issues about how the behavior of Wall Street led to the financial crisis and the degree to which employees were responsible.

[Skimm] Tourre was on trial for his role in a failed $1 billion mortgage deal, where he was accused of knowingly misleading investors. The Securities and Exchange Commission is serious about its crackdown on what went wrong and Fab was one of its biggest victories yet. He now faces fines and could be banned from the securities industry.

Related: Fabrice Tourre

Posted by Editor on 08/02/13 at 02:48 PM •  (0) Comments

Tags:  fraud, wall street,

Share Your Ire

blog comments powered by Disqus
Vile Quotes

"America does not have an aristocracy or a plutocracy."
Art Pope