facebook
twitter
rss
account
search
search
 

Quattrone conviction overturned

March 21, 2006 at 11:45 AM   |   Comments

NEW YORK, March 21 (UPI) -- In a big setback to the Justice Department, a U.S. appeals court set aside the obstruction of justice conviction of investment banker Frank P. Quattrone.

The court pointed to errors in the trial judge's jury instructions. As a result, the court held Quattrone, accused of encouraging subordinates to destroy documents sought by a grand jury, did not get a fair trial, reports The Washington Post.

The appeals court reassigned the case to a new judge, but noted the evidence against the former Credit Suisse First Boston LLC banker was more than sufficient for conviction.

If he faces a retrial, it will be the third one for Quattrone, whose first trial resulted in a hung jury.

A spokeswoman for the U.S. attorney's office said the ruling was being reviewed after which prosecutors will consider their options.

Separately, The New York Times reported Quattrone saying in a statement, "For over three years during this difficult ordeal, I have held my head high knowing I was innocent and never intended to obstruct justice."

The Times report said that in a similar setback to the government, the Supreme Court last year overturned the conviction of the accounting firm Arthur Andersen.

© 2006 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Most Popular
1
Texas man on trial for 'public execution' of drunk driver
2
Northrop Grumman developing reusable space plane for lifting spacecraft into orbit
3
Construction on Russian gas line to China slated for September
4
American photojournalist James Wright Foley executed by Islamic State
5
Britain pardons World War II code-breaker castrated for homosexuality
Trending News
Video
x
Feedback