Quattrone Faces Retrial

by Leroy Baker, for LawAndTax-News.com, New York

06 November 2003

It emerged on Tuesday that former CSFB star investment banker, Frank Quattrone is to face a second federal trial, following the mistrial ruling delivered last month in the case against him.

In a letter to Judge Richard Owen, who oversaw the first trial, US Attorney James Comey announced that the prosecution is seeking a retrial. However, speaking to the Associated Press this week, spokesman for the Manhattan federal prosecutors, Michael Kulstad, declined to comment on when the second trial will take place, and whether the charges will be amended.

Also speaking to the AP, Mr Quattrone's attorney, John W. Keker expressed disappointment at the decision, announcing that:

"Frank Quattrone is a man who plays by the rules, and he did not obstruct justice when he sent a one sentence e-mail endorsing company policy. We remain confident that the government's evidence is insufficient to prove their case."

Mr Quattrone stands accused of forwarding and endorsing an e-mail advising CSFB employees to "clean up" their files, during a federal investigation into the allocation of stocks for 'hot' IPOs during the late 1990s.

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