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Credit Suisse Brokers Face Charges Over ARS Sales

Law360 (September 3, 2008, 12:00 AM EDT) -- Two former Credit Suisse Group brokers have been indicted on securities fraud and conspiracy charges in connection with a scheme to pocket inflated commissions from the sale of risky auction rate securities.

Julian Tzolov, 35, and Eric Butler, 36, who worked for the Swiss investment bank's U.S. securities division, were charged in a multicount criminal indictment unsealed in the U.S. District Court for the Eastern District of New York on Wednesday, the U.S. Attorney's Office in Brooklyn said.

Butler was arraigned at a hearing before U.S....
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