Judge won't block SEC use of recording against Goldman's Tourre
By Nate Raymone - Euronews (Reuters)
NEW YORK (Reuters) – Three years after Fabrice Tourre became the face of a major U.S. regulatory action against Goldman Sachs Group Inc <GS.N>, a newly uncovered phone recording is giving the Securities and Exchange Commission ammunition in its fraud case against the former bond trader.
The January 2007 call was between a Goldman saleswoman and an executive at ACA Financial Guaranty Corp, which helped pick securities backing the collateralized debt obligation about which Goldman and Tourre allegedly misled investors.
As Tourre looked on, U.S. District Judge Katherine Forrest at a Friday hearing in Manhattan federal court denied his bid to keep the recording from being admitted at his upcoming trial, scheduled for July 15.
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