Quattrone: ‘I Am Innocent’

Updated: A federal judge has approved a prosecution request to drop charges against former investment banker Frank Quattrone, whose conviction for obstruction of justice and witness tampering was overturned 17 months ago.

Quattrone was prosecuted for an e-mail reminding employees of document retention policies during an investigation into whether Credit Suisse required kickbacks for participation in initial public offerings.

After the New York City-based 2nd U.S. Circuit Court of Appeals reversed Quattrone’s conviction because of an improper jury instruction, prosecutors agreed to drop charges if Quattrone did not break the law for a year, Bloomberg News reports.

The 2nd Circuit ruled that a jury instruction should have required proof that Quattrone intended to obstruct justice.

The New York Times' DealBook posted a statement issued by Quattrone.

“The opera is over,” he said. “For more than four years, I fought to clear my name and prove that the accusations against me were without merit. Today, the legal system has rendered its final verdict: I am innocent.”

Originally posted 08-30-2007 at 09:40 a.m.