Goldman Scores Huge Break With The SEC, Hangs Fabrice Tourre Out To Dry

Fabrice Tourre In Court

Photo: AP

Fabrice Tourre is being hung out to dry.Goldman is fine – a $550 settlement with the SEC is coming at 4:45 pm today.

But, CNBC says that the investigation continues into Fabrice Tourre.

The SEC dropped the fraud charges on Goldman, but not the fraud charges on Fabrice Tourre.

Basically, Goldman got the SEC to change the charges on the firm – now Goldman’s fault reads that they omitted key information. It does not read that Goldman committed fraud. It’s great for Goldman – that was the one charge they needed to get rid of.

But the jury is still out on Fabrice. He could still be charged with fraud.

This means either one of two things happened.

1. Goldman was not able to get the SEC to change the language in Fabrice’s fraud charge. So they hung Fabrice out to dry.

2. Fabrice didn’t want to settle and is fighting the charges.

This case has got to be really tough for Fabrice. His emails were taken largely out of context and his ex-girlfriends were brought into this.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.