Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Who is the 'fabulous' Fabrice Tourre?

By Aaron Smith, CNNMoney.com staff writer


NEW YORK (CNNMoney.com) -- The SEC's fraud charges against Goldman Sachs focus on a Frenchman known as the "fabulous Fab."

At least, that's how Fabrice Tourre described himself, according to a 22-page complaint filed by the Securities and Exchange Commission on Friday. As a result, he's gone from obscurity to one of the day's hottest Google trends.

The Securities and Exchange Commission accused Tourre, a vice president at the investment firm Goldman Sachs (GS, Fortune 500), of defrauding investors in a securities sale tied to subprime mortgages. The SEC's court document, which was filed in U.S. District Court in the Southern District of New York, includes various comments allegedly made by Tourre in which he misled representatives from ACA Management about collateralized debt obligations, or CDOs.

But the SEC's most damning allegations refer to one of Tourre's e-mails, written in French and English, to an unnamed friend, where he confidently presented himself as the lone, "fabulous" survivor amid the apocalyptic fallout of his finance firm.

"More and more leverage in the system, The whole building is about to collapse anytime now ... Only potential survivor, the fabulous Fab[rice Tourre] ... standing in the middle of all these complex, highly leveraged, exotic trades he created without necessarily understanding all of the implications of those moustruosities[sic]!!!" wrote Tourre on Jan. 23, 2007, according to SEC documents.

At the time, Tourre was working at a trading desk for structured products in New York City, according to the SEC. The 31-year-old is currently in London as executive director of Goldman Sachs International.

He did not immediately respond to an e-mail sent via his LinkedIn account, where he identifies himself as a 2000 graduate of Ecole Centrale Paris with a bachelor's degree in mathematics, followed by a 2001 master's degree in operations research from Stanford University. According to the bio, he has worked at Goldman since 2001.

Goldman did not immediately return a call seeking comment and information concerning Tourre's lawyer. To top of page

Search for Jobs

Index Last Change % Change
Dow 19,756.85 142.04 0.72%
Nasdaq 5,444.50 27.14 0.50%
S&P 500 2,259.53 13.34 0.59%
Treasuries 2.46 0.08 3.23%
Data as of 12:48am ET
Company Price Change % Change
Bank of America Corp... 23.09 0.14 0.61%
Ford Motor Co 13.17 0.14 1.07%
Chesapeake Energy Co... 7.72 0.12 1.58%
Twenty-First Century... 28.21 -0.43 -1.50%
Apple Inc 113.95 1.83 1.63%
Data as of Dec 9
Sponsors

Sections

Even Carl Icahn, one of President-elect Donald Trump's biggest cheerleaders on Wall Street, thinks the post-election exuberance in the stock market has gotten a bit out of hand. More

Republican leaders keep saying Obamacare is hurting the economy and killing jobs, but there's scant evidence for it. In fact, a number of studies show that the economy has been growing. More

Facebook admits it messed up more ad metrics than previously thought, potentially eroding its trust and relationship with marketers and publishers. More

The Los Angeles city attorney is suing four major retailers over claims that they deliberately inflated the original price on some items that misled customers into thinking they were getting a better deal. More