Economics
Phone Call Admitteed at Trial of Ex-Goldman Executive
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Fabrice Tourre, the former Goldman Sachs Group Inc. executive, lost a bid to bar a recorded 2007 phone call from a July 15 trial of U.S. Securities and Exchange Commission claims that he misled investors in a collateralized debt obligation.
U.S. District Judge Katherine Forrest in Manhattan yesterday rejected Tourre’s request to punish the SEC for its delay in turning over the Jan. 17, 2007, recording of a call between Goldman Sachs saleswoman Gail Kreitman and an employee of ACA Management LLC by keeping it out of the trial. The SEC claimed that Tourre tricked ACA into becoming the portfolio selection agent for the CDO.