January 7, 2014 / 4:00 PM / in 4 years

Ex-Goldman VP Tourre loses bid for new trial

NEW YORK, Jan 7 (Reuters) - Fabrice Tourre, a former Goldman Sachs Group Inc vice president found liable for securities fraud over a failed mortgage transaction, has failed to persuade a federal judge to dismiss the U.S. Securities and Exchange Commission case against him or to set a new trial.

U.S. District Judge Katherine Forrest in Manhattan on Tuesday rejected Tourre’s contention that his jury had erred in finding him liable on six of the seven civil charges he faced over the transaction, which the SEC said caused $1 billion of investor losses.

Pamela Chepiga, an attorney for Tourre, was not immediately available for comment. SEC spokesman John Nester was also not immediately available.

The case is SEC v. Tourre, U.S. District Court, Southern District of New York, No. 10-03229.

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