Goldman Sachs’s Fabulous Fab Faces SEC Fraud Trial TodayJuly 15, 2013 – In The News
Ernest Badway was quoted in the Bloomberg Businessweek article "Goldman Sachs’s Fabulous Fab Faces SEC Fraud Trial Today." While the full text can be found in the July 15, 2013, issue of Bloomberg Businessweek, a synopsis is below.
Goldman Sachs’s ex-vice president, Fabrice Tourre, is set to begin trial today on allegations that he misled investors.
According to Ernest Badway, jurors will be looking to see if Tourre intentionally misled customers. “They’re going to look to see if he said something that he knew to be untrue,” Badway said.
“I’m a little troubled by the case,” Badway said. “I don’t know how you go after him (Tourre) and not go after some of the people who were above him at Goldman Sachs.”