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Ex-Credit Suisse man is arrested

A FORMER Credit Suisse trader facing trial on charges of fraudulently selling $1bn (&pound;6.9m) worth of mortgage-backed auction-rate securities has been arrested after two months on the run, according to a court document made public yesterday.<br /><br />The arrest of Bulgarian national Julian Tzolov, who escaped from house arrest in New York and electronic monitoring on 9 May, came as a new indictment was unsealed against him and a former colleague Eric Butler.<br /><br />Butler and Tzolov are scheduled to go on trial in Brooklyn federal court next week. Butler and Tzolov are charged with 14 counts of wire fraud.