Goat walks

21 March 2006 By Rob Cox Follow @rob1cox

A judge overturned the exCSFB tech banker s obstruction of justice conviction, saying the case wasn t properly presented to the jury. Since he was made Wall Street s scapegoat for the excesses of a speculative bubble in a retributive moment, he may very well escape prison.

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An appeals court overturned a May 2004 criminal conviction for obstruction of justice of Frank Quattrone, the former head of Credit Suisse First Boston's technology investment banking unit. The court found the judge in the trial improperly advised the jurors that the prosecution did not need to show Quattrone intended to obstruct investigators when he forwarded an email to his staff reminding them of CSFB's documents retention policy.

The U.S. Attorney's office in Manhattan must decide whether to retry Quattrone. The first attempt ended in a mistrial.

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