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Monday, July 15, 2013

Trial Of Ex-Goldman Sachs Vice President Begins

Former Goldman Sachs Group Inc. executive Fabrice Tourre enters Manhattan federal court on the first day of his trial, Monday, July 15, 2013, in New York. (Louis Lanzano/AP)

Former Goldman Sachs Group Inc. executive Fabrice Tourre enters Manhattan federal court on the first day of his trial, Monday, July 15, 2013, in New York. (Louis Lanzano/AP)

Jury selection commences today for the trial of a former Goldman Sachs vice president, Fabrice Tourre.

The Securities and Exchange Commission alleges that Tourre, or “Fabulous Fab” as he was known, and Goldman Sachs misled investors, “about a financial-crisis era transaction that ultimately cost investors more than $1 billion when the housing market collapsed,” the Wall Street Journal reports.

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