SEC seeks big penalties from Fabrice Tourre

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Prosecutors have asked a federal judge to fine Fabrice "Fab" Tourre, formerly of Goldman Sachs Group Inc., more than $1.1 million in the wake of a jury verdict that found him liable on six of seven charges related to a controversial collateralized debt obligation deal, reports Reuters. Some consider his conviction a major victory for the Securities and Exchange Commission. Others think he was merely a scapegoat for the sins of much higher-ranking executives.