Ex-Credit Suisse Broker Gets 4 Years For $1B ARS Fraud

Law360, New York (June 7, 2011, 5:49 PM EDT) -- A New York federal judge on Tuesday sentenced a former Credit Suisse Group AG broker who testified at trial against his ex-partner to four years in prison for his role in a $1.2 billion auction rate securities fraud.

U.S. District Judge Jack B. Weinstein handed down the sentence to Julian Tzolov, who pled guilty in July 2009 and then helped the federal government win a conviction at trial in August 2009 against fellow broker and Credit Suisse managing director Eric Butler.

Federal prosecutors confirmed Tzolov’s sentence...
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