Fabrice Tourre Doesn't Need Your Pity

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Former Goldman Sachs employee Fabrice Tourre hasn't had a great year. In August, a federal jury found him "liable on six of seven claims that he violated federal securities law by intentionally misleading investors," in addition to "aiding and abetting an alleged fraud by Goldman." In March, a judge ordered to pay $825,000 ($175,463 in gains related to the deal that investors were misled on, $650,000 in civil penalties). That same month, the University of Chicago, the place that Fab fled to after leaving Goldman Sachs to rebuild his life as an academic, decided it didn't want him teaching it undergrads. So, things have been tough. But while he may not have the support of his ex-employer, the securities industry, Judge Katherine Forrest, or 100% of Chicago's economics department faculty,1 he does have this:

And that's enough to sustain him through at least the Fall '14 semester.

"Fabulous Fab" wins best Teaching Assistant in UChicago Econ Dept [Rex Johnson]

1. The graduate department is actually okay with him.↩

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That's Dr. Fab Tourre To You!

Goldman Sachs's former resident of fabulousness is going back to school. The Securities and Exchange Commission alleged in a 2010 complaint that Goldman Sachs and Fabrice Tourre, 33, who is on unpaid leave, defrauded investors in a collateralized debt obligation known as Abacus 2007-AC1. The regulator identified Tourre as a “resident of Kigali, Rwanda,” in court papers filed March 21 in Manhattan federal court. Tourre had been in the African nation’s capital working for a non-governmental organization before beginning his studies at the University of Chicago, according to a person familiar with his travels who declined to be identified because the matter isn’t public. “Tourre is a U.S. resident studying for a Ph.D. in economics at the University of Chicago,” his lawyer, Pamela Rogers Chepiga, said in a statement March 21. Steve Koppes, a university spokesman, said Tourre has been enrolled in the program since September. [Bloomberg]