What do Goldman Sachs and 1993 World Trade Center bombing conspirator Omar Abdel-Rahman have in common? They have both been both targets of Robert Khuzami. He's the SEC prosecutor behind the case against Goldman. Newsweek has an interesting profile today on the attorney, who spent seven years working for Deutsche Bank. The article explains part of the difficulty he'll have, given the SEC's past failures with such cases:
On June 25 a U.S. District Court judge in New York threw out the SEC's first-ever insider-trading case in credit default swaps against a Deutsche Bank trader, saying the SEC had no evidence. (Khuzami recused himself, as he does from all Deutsche Bank-related cases.) Many Wall Streeters employ a defense similar to the argument used in the acquittal of two Bear Stearns hedge-fund managers last fall: we were clueless about the crash but not criminal; no one knew how bad things would get.
Khuzami says those earlier setbacks are "a reminder to think about how your evidence will play out in a courtroom." But he insists those decisions won't "chill" him from "bringing appropriate cases."
Read the full story at Newsweek.