Dark Law · DL-029
SHE FOUND THE EMAILS ON A THURSDAY. THE TRADER CALLED HIMSELF FABULOUS. LEGAL APPROVED THE PRODUCT ANYWAY.
In March 2010, SEC attorney discovered internal emails from trader Fabien Tourraine, who labeled a collateralized debt obligation as a "house of cards." Within days, this evidence led to the largest settlement in SEC history, costing Meridian Securities five hundred and fifty million dollars.
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