Former Credit Suisse Group AG broker Eric Butler will remain free while a judge reviews a decision that ordered him to prison during the appeal of his conviction for fraudulently selling securities that cost investors more than $1.1 billion in losses.
Julian Tzolov , a former Credit Suisse Group AG broker who fled prosecution before pleading guilty to securities fraud, was sentenced to four years in prison after initially getting a five-year term earlier in the day.
Former Credit Suisse Group AG broker Eric Butler is likely to receive the same five-year sentence after a federal appeals court overturned his securities-fraud conviction earlier this week, a judge said today.
Former Credit Suisse Group AG broker Eric Butler, convicted by a jury of securities fraud in 2009, won’t have his prison sentence extended after pleading guilty to seven wire-fraud counts stemming from the same actions.
There is no judge I know who does not think that sentencing is the most difficult part of the job. You just do not know how you will respond until you are face to face with the person whom you have to decide whether to put in jail -- and for how long.