Credit Suisse Group AG and Elbit Systems Ltd. agreed to a settlement of the Israeli defense contractor’s lawsuit seeking to hold the bank liable for the conduct of two former brokers convicted of defrauding investors.
Julian Tzolov , a former Credit Suisse Group AG broker who pleaded guilty to securities fraud, should be granted leniency in his sentencing tomorrow because of his “substantial assistance,” including testifying against his former partner, federal prosecutors said.
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.
MBIA Inc. hid potential losses of as much as $950 million on commercial real estate debt as it sought New York regulators’ approval to restructure its insurance business in 2008, banks including Bank of America Corp. and UBS AG claimed in court papers.
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.
Former Credit Suisse Group AG broker Eric Butler, convicted two years ago of committing a $1 billion fraud, began his five-year sentence at a New Jersey prison where he will be able to earn as much as 40 cents an hour.