2nd Circ. Nixes Credit Suisse Broker's Fraud Conviction

Law360, New York (June 15, 2011, 3:04 PM EDT) -- The Second Circuit on Wednesday reversed the fraud conviction of a Credit Suisse Group AG broker accused of tricking investors into buying auction rate securities, finding no evidence tying his alleged crime to the Eastern District of New York, the case’s original venue.

Federal prosecutors brought the case in the Eastern District of New York because the broker, Eric Butler, regularly flew out of John F. Kennedy Airport, which is located in the district, on the way to meet with his investors, to whom he allegedly...
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