Telegraph UK:
Exchanges between Fabrice Tourre of Goldman Sachs and a friend are a key part of the evidence the Securities and Exchange Commission (SEC) is using in its case against the trader and the Wall Street bank.
But Mr Tourre, 31, is not the first person to face being condemned by his own hand as a result of an email exchange, and he is unlikely to be the last.
The fraud case brought against former Bear Stearns' hedge fund managers Ralph Cioffi and Matthew Tannin centred around emails that suggested the men knew their funds were heading for problems, while insisting to investors there was no need for concern. The collapse of the two funds triggered the subprime mortgage crisis.
In an April 2007 email between Tannin and Cioffi, the former said he feared the bond market they had invested in was "toast'' according to prosecutors. Three days later, he told investors on a conference call he was "very comfortable with exactly where we are".
The two men were eventually acquitted after the defence successfully argued the emails were taken out of context.
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