Thursday, August 13, 2009

Hedge Fund Manhunt! - With Love from Bulgaria...

Lest we think we were entering the hedge fund fraud doldrums of the summer, when news was released ofthe manhunt for Bulgarian national Julian Tzolov.
[caption id="" align="alignleft" width="214" caption="Mr. Tzolov in cuffs"]Mr. Tzolov in cuffs[/caption]
Mr. Tzolov, an ex-credut suisse trader who was charged with fraud along with another Eric Butler in September 2008, was declared a fugitive last Friday by the U.S. government. By complete coincidence, this was exactly three weeks before Mr. Tzolov's trial for fraud was to begin.
He was under house arrest while pending trial for fraud related to subprime mortgages. He left his houseon May 9 and never returned.
Guess Mr. Tzolov didn't hear about the new extradition treaty between the US and Bulgaria.
The hedge fund industry loves a good manhunt - the most memorable being Sam Israel's dramatic stint on the lamb.
[caption id="" align="alignright" width="166" caption="Bayou's Sam Israel Captured"]Bayous Sam Israel Captured[/caption]
Let the hunt begin!
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