Ex-Credit Suisse Broker Eric Butler Guilty of Securities Fraud

August 18th, 2009


Former Credit Suisse Group AG broker Eric Butler was convicted of fraudulently selling millions of dollars in subprime securities to corporate clients that allowed him to generate higher commissions.

Butler, 37, was found guilty on all three counts after two hours of jury deliberations in federal court in Brooklyn, New York. Co-defendant Julian Tzolov, 36, who was returned to New York from Spain on July 20 after fleeing prosecution, pleaded guilty to conspiracy, wire fraud and securities fraud July 22. He testified as a prosecution witness against Butler, his former partner, during the three-week trial.

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