Fabrice Tourre, the Goldman Sachs trader accused of misleading clients over a controversial mortgage deal, is no longer working at the firm.
In 2010, the Securities and Exchange Commission accused Goldman Sachs and Mr. Tourre of misleading a handful of clients by not disclosing that a hedge fund helped select the bonds for an investment product and also bet that those assets would fall in value.
Goldman settled the charges, agreeing to pay $550 million. But Mr. Tourre is still fighting the civil case.
Mr. Tourre had been on unpaid leave from Goldman for some time and has not been woring for the firm since the end of 2012. However, the firm is still paying the trader’s legal bill.
The trader’s often over-the-top emails made headlines in 2010 when the S.E.C. charged the firm and Mr. Touree with fraud. In one note to a friend, he claimed he managed to sell the product in question to some “widows and orphans†that he ran into at an airport.
Mr. Tourre has denied wrongdoing and could go on trial as early as this year. His lawyer did not return a call for comment.
The Wall Street Journal earlier reported news that Mr. Tourre was no longer working for Goldman.
