facebook
twitter
search
search

Quattrone conviction overturned

March 21, 2006 at 11:45 AM

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.

Latest Headlines
Top Stories
Australia receives seventh C-17 in record time
U.S. officials, Boeing believe wreckage likely from missing Malaysian jet
Work to prepare Portsmouth Navy base for new carriers begins
Gangs in El Salvador kill at least six bus drivers to intimidate government
Hacking led to intelligence on North Korea weapons, Seoul says