http://www.digitaljournal.com/article/276048

Former Wall Street broker arrested in Spain

Posted Jul 16, 2009 by Alethea Borgman
Julian Tzolov, a former Credit Suisse Group AG broker, who faces charges of security fraud and bail jumping for illegally selling subprime mortgages, has been arrested in Spain following an international manhunt.
Foreclosure on house
Foreclosure on house
File photo by respres
A former Credit Suisse broker is accused of committing fraud amounting to 400 million dollars in a fraudulent scheme when he worked as corporate Vice-president of Credit Suisse Group AG in New York
Assistant U.S. Attorney Daniel Spector disclosed the arrest following a letter sent to a federal judge in Brooklyn, New York, according to a Bloomberg report today.
Tzolov, 36, was taken into custody yesterday in Marbella, Costa del Sol; an area that has become synonymous with crime and is known as a playground for the rich and famous.
The fugitive, who used bodyguards for his protection, was apprehended by National Police in Marbella and held false documentation bearing the name, Ivan Stefanov Ivanov, police said.
Tzolov, a Bulgarian national, and one of the FBI’s most wanted criminals had, according to Police, shown interest in renting and buying ‘luxury residences’ in Marbella disappeared in June while under house arrest and initially told the court via his lawyer, that he intended to plead guilty so as to avoid trial.
Benjamin Brafman, Tzolov's lawyer said; “Julian made a huge mistake when he fled; All he has succeeded in doing is further complicating his legal position.”
Tzolov and Eric Butler, 37, also a former Credit Suisse broker were both charged in an indictment unsealed last September by prosecutors in the office of Brooklyn U.S. Attorney Benton Campbell. The case accused both men of falsely stating that their products were supported by federally guaranteed student loans.
If convicted, Tzolov faces 15 years in prison for failing to appear in court, said Robert Nardoza, a spokesman for Campbell.