Download or read book The Fraud Cases Against Julian T. Tzolov And Eric S. Butler written by Backgroundnow.com Staff and published by www.BackgroundNow.com. This book was released on 2008-10-02 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: JULIAN TZOLOV and ERIC BUTLER, former brokers at Credit Suisse Securities LLC, have been charged with conspiracy, securities fraud, and wire fraud. The superseding indictment alleges that the defendants schemed to obtain higher sales commissions by selling auction rate securities ("ARS") backed by mortgages to Credit Suisse clients who, in fact, had placed orders to buy ARS backed by student loans. The defendants concealed their scheme by falsifying the names of the ARS the clients bought and otherwise misleading the clients into believing they had bought ARS backed by student loans. When the mortgage-backed ARS market failed, the clients lost their money.