Ex-Broker's Appellate Win Could Be Costly, Judge Says

Law360, New York (June 17, 2011, 7:04 PM EDT) -- A New York federal judge on Friday warned a former Credit Suisse Group AG broker accused of tricking investors into buying auction rate securities that the Second Circuit's dismissal of his fraud conviction could put him at risk of a longer prison term.

U.S. District Judge Jack B. Weinstein said in a memorandum that a Wednesday decision by the Second Circuit to toss one of three counts on which Eric Butler was convicted could result in the broker having to spend a longer prison sentence if...
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