A once high-flying Goldman Sachs trader dubbed “Fabulous Fab” was ordered Wednesday to pay more than $825,000 in one of the prominent cases stemming from the mortgage meltdown that helped spark the Great Recession.
Ruling in Securities and Exchange Commission v. Fabrice Tourre,10 Civ. 3229 (KBF), a civil case that regulators called a symbol of “Wall Street greed,” Southern District Judge Katherine Forrest (See Profile) decided Fabrice Tourre should pay a $650,000 penalty and give up more than $175,000 of his $1.5 million-plus bonus for 2007.
