Julian Tzolov, the former Credit Suisse broker accused of cheating investors out of $4 million and then fleeing the country, pleaded guilty today to securities fraud, conspiracy, wire fraud, and bail-jumping charges. Why did Tzolov slip out of his Fifth Avenue condo and escape to Spain—he was nabbed in lovely Marbella in possession of a fake passport and accompanied by a bodyguard—a move that cost his friends and family the $3 million they put up in bail money? "I panicked your honor. I got scared," Tzolov told a judge shortly before his attorney, Ben Brafman explained that his client "meant no disrespect" by running off and now "recognizes that this was a bad idea." [Bloomberg, NYP]
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