The Wall St Journal writes: Fabrice Tourre, the Goldman Sachs trader known for dubbing himself “fabulous Fab” in emails cited by regulators suing the New York securities firm, spent part of last year in Rwanda before starting graduate school at the University of Chicago.
Court papers filed this week in U.S. District Court for the Southern District of Manhattan identify Tourre as a resident of Kigali, Rwanda. The filing was first reported by Bloomberg News.
Tourre, who is on unpaid leave from Goldman as he awaits trial on a civil fraud charge by the SEC, is enrolled in a graduate program in economics at the University of Chicago, according to a person familiar with the matter. The leave from Goldman had been paid until he enrolled in the graduate program.
Tourre has been in Chicago since last August, the person said.
Tourre was accused in an April 2010 SEC lawsuit that claimed Goldman failed to disclose to investors the role hedge-fund Paulson & Co. had in the structuring of a collateralized debt obligation, named Abacus 2007-AC1, and that the hedge fund had bet against the deal’s performance. Goldman agreed in July 2010 to pay $550 million to settle SEC civil charges over its disclosures regarding the deal. The payment was one of the largest penalties in Wall Street history. The investment bank didn’t admit or deny wrongdoing, but acknowledged it made a “mistake” by not disclosing the hedge fund’s role. Tourre faces allegations that he violated federal securities laws by knowingly, recklessly or negligently making misrepresentations in the Abacus deal….
Hungry to know more? Check out http://blogs.wsj.com/deals/2012/03/23/where-in-the-world-is-fabulous-fab-rwanda-chicago/?mod=WSJ_markets_liveupdate
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