US Asks For Lenient Sentence For $1B Fraudster

Law360, New York (June 6, 2011, 6:37 PM EDT) -- The U.S. government asked a New York federal judge on Monday to show some leniency in sentencing a former Credit Suisse Group AG broker who pled guilty to a $1 billion auction rate securities fraud.

Prosecutors said Judge Jack B. Weinstein should go easy on Julian Tzolov because he was instrumental in convicting fellow fraudster Eric Butler. The government called it “one of the most significant prosecutions since the onset of the financial crisis, and in particular the collapse of the auction rate securities and subprime...
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