Ex-Goldman Sachs VP ordered to pay $1.1 million for role in fraud

Fabrice Tourre was deemed primarily responsible for misleading investors in a failed $1 billion investment

Remember when fraud litigation against JPMorgan, Wells Fargo, Bank of America and other financial institutions was far in the future, and Goldman Sachs was the lawsuit du jour? Unfortunately for former Goldman Sachs VP Fabrice Tourre, the Securities and Exchange Commission (SEC) hasn’t forgotten either, and now he’ll have to pay.

The SEC ruled that Tourre should pay $1.1 million for his part in Goldman Sachs’ failed $1 billion investment, the Commission announced on Dec. 16. The $1.1 million penalty is for fines, disgorgement and interest.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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