August 22, 2006
Judge approves Quattrone settlement
NEW YORK (Reuters) - A U.S. federal court judge on Tuesday
approved a settlement that would let former star technology
investment banker Frank Quattrone avoid a third trial for
obstructing justice, opening the door for him to resume his
career on Wall Street.
Last week Quattrone, who once dominated the world of high
flying technology IPOs as Silicon Valley's top banker, reached
a deal with prosecutors in which he could avoid a third trial
for obstructing justice. Under the deferred-prosecution
agreement, Quattrone would suffer no penalty if he did not
violate any laws in the next 12 months.
The former Credit Suisse Group Inc. banker, clad in a light
grey suit and blue shirt, also did not admit to any wrongdoing
as part of the settlement, which was approved by Judge George
Daniels of Manhattan Federal District Court.
Quattrone, 50, has maintained his innocence since
prosecutors in April 2003 accused him of obstruction of justice
when he forwarded an e-mail to colleagues in December 2000
suggesting it was "time to clean up those files."
"I'm very pleased this case will be concluded and I look
forward to the formal dismissal of all charges," he told
reporters outside the courthouse following the hearing, adding
that he planned to resume "my business career."
"Thanks to all of you who have stood by me during the past
four years," he added. "God bless you all."