[ by Melanie Gretchen ] Nearly 2 years after Goldman Sachs paid $550 million to settle SEC charges it misled investors in its Abacus subprime mortgage CDO, the SEC remains in hot pursuit of the Goldman sales-trader known as the "Fabulous Fab." The SEC sued Fabrice Tourre in 2010 - the only individual ever named in this matter - for failing to tell investors that hedge fund Paulson & Co. helped pick the underlying securities for the collateralized debt obligation, and planned to bet against them.  After concluding the Goldman $550 million settlement, the SEC filed a new claim against Tourre, saying he gave the company "substantial assistance" as it misled investors. The SEC claimed that 1 major investor, IKB Deutsche Industriebank AG (IKB), would not have invested in Abacus if it had known of Paulson's role in the portfolio selection.  To substantiate that charge, the SEC now wants to question former IKB employee, Jorg Zimmerman about IKB's decision to invest, the representations Tourre and Goldman made to teh bank, "and the importance the fats omitted by Tourre" and Goldman Sachs. However, to do so, the SEC needs to have a federal judge in New York issue legal papers necessary for SEC lawyers to take testimony from Mr. Zimmerman - who resides in Germany. Fabrice "Fabulous Fab" Tourre, who attests to his innocence, remains a marked man.  And the SEC is still hungry for a conviction against an individual - someone, anyone on whom the SEC can pin the blame for the 2008 credit crisis.  Unfortunately for Tourre, he currently is the most vulnerable candidate.  Until all the issues play out, Tourre's life is in limbo - no thanks to his employer, Goldman Sachs. The case: SEC v. Tourre, 10-cv-03229, U.S. District Court, Southern District of New York (Manhattan). For further details, go to [Businessweek, 2/23/12].