In a court filing on Tuesday, Tourre’s lawyers attacked the Securities and Exchange Commission’s pursuit of more than $1m in penalties, calling it 'unwarranted and unjust' and 'unreasonably severe'. The lawyers are proposing a smaller sum: $65,000 or less.
Tourre’s bid for leniency comes nearly six months after a federal jury found him liable for defrauding investors in the mortgage deal, a verdict that handed the S.E.C. its first major legal victory in a case arising from the financial crisis. Until the case made Tourre a symbol of the crisis, such courtroom triumphs remained elusive.
The legal filing on Tuesday opened a window into Tourre’s life since the trial, saying he had resumed his routine as an economics doctoral student and teaching assistant at the University of Chicago.
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