BROKER FUGITIVE TZOLOV LEAVES FRIENDS HOMELESS
A former Credit Suisse broker who became a fugitive to escape trial for fraud now has two more victims — the friends who put their homes on the line to back his $3 million bail.
Brooklyn Federal Judge Jack Weinstein angrily ordered prosecutors to seize $3 million in assets that were posted as bail for Julian Tzolov, 36, including a friend’s Manhattan apartment and a Miami Beach home belonging to his girlfriend’s brother.
The feds launched a massive manhunt for Tzolov on May 9 after he vanished from his posh Fifth Avenue condo, where he’d been under house arrest for eight months, complete with an electronic monitoring device around his ankle.
On the day of his disappearance, the feds said Tzolov was allowed to leave his apartment at 225 Fifth Ave. for two one-hour periods to go to the gym and to go shopping.
“Everything should be forfeited,” Weinstein said yesterday in reference to the friends who signed Tzolov’s bail bond. “They’re going to lose everything.”
Prosecutors, who announced Tzolov had disappeared last week, could also seek to seize the fugitive’s home.
The crooked Wall Streeter is accused of placing investors’ money in risky mortgage securities without their permission. He and his broker buddy Eric Butler allegedly told their victims the investments were secured by federally guaranteed student loans.
Just weeks before his disappearance, Tzolov told prosecutors he was ready to plead guilty, according to court papers.
“In fact, Tzolov never pled guilty, but rather chose to become a fugitive,” Assistant US Attorney Daniel Spector wrote in letter to Weinstein.
Outside of court, defense lawyer Benjamin Brafman said, “We were notified by the government on May 9 that he was missing. We haven’t spoken to him.”
Butler was originally set to face trial with Tzolov later this month, but Weinstein postponed the case until July 20. The judge denied a request to give prosecutors until mid-August to find Tzolov and put the two men on trial together.
This isn’t the first time Tzolov’s whereabouts have been at issue.
When he was originally charged criminally last September, Tzolov was in his native Bulgaria and had to be convinced to return to the US to avoid becoming a fugitive.