Fabrice Tourre, a former Goldman Sachs executive who was found guilty of securities fraud, is teaching Elements of Economics Analysis III (an honors class) at the University of Chicago.
Tourre, who was a vice president at Goldman Sach, was found liable this past August on six of seven counts of securities fraud for misleading investors in a complex investment product linked to mortgages.
The New Yorker wrote that Tourre - who calls himself “Fabulous Fab” - was the “only Wall Street banker to be found guilty of any charges having to do with the financial crisis” of 2008.
Both Goldman Sachs and Tourre were sued by the Securities and Exchange Commission (SEC) in 2010. In July of that year, Goldman signed a $550 million settlement with the SEC, neither confirming nor denying the allegations. The settlement did not cover Tourre, who refused to settle. Six months ago, a federal jury found him liable. He is appealing to reduce the $1 million in penalties against him.
Wen Huang, a news officer with the University of Chicago, confirmed Tourre's class to Campus Reform but went on to say the university is "not able to offer any other comments at this point."
