Photo: AP Images
Fabrice Tourre (a.k.a. “Fabulous Fab”), the young Goldman Sachs VP who was accused of creating and selling a CDO filled with risky mortgages, did volunteer work in Rwanda and started his PhD ahead of his trial, Bloomberg News reports.Tourre, 33, lived in Rwanda’s capital Kigali and worked for a non-governmental organisation, the report said. He also started his PhD in economics at the University of Chicago.
In April 2010, the SEC sued Goldman and Tourre claiming they failed to reveal to investors that hedge fund manager John Paulson helped select underlying assets for a CDO with risky mortgage securities called Abacus 2007-AC1, which the hedge fund billionaire later shorted.
Goldman later settled for $550 million in July 2010. Paulson hasn’t been charged.
Tourre is currently on unpaid leave at the bank.
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