Bernhoft Law

Archive for May, 2010

Rule #1 When You’re An Executive Targeted by the Feds: Don’t Trust Your Company — Ask Fabrice Tourre of Goldman Sachs

05-03-2010

As Goldman Sachs executives go under the investigative knife (with the requisite and repeated improper public disclosures of private inquiries, a common phenomenon with a Department of Justice that doesn’t even live by its own rules), they have already made one critical error: trusting the company they work for.

As reported today in Bloomberg News, the 31 year old banker “at the center” of the inquiry, Fabrice Tourre, faces increased scrutiny from criminal investigators due to his sworn and public comments concerning the matter. As another former prosecutor admits, doing what Tourre has done — comment publicly and under oath about the facts of the case — has already and will “seriously curtail” the ability for Tourre to even “find running room” to defend himself against future criminal charges. So why did he do it?

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