Quattrone Gets Deferred Prosecution Agreement
Frank Quattrone has to be a happy man today. Charged with obstructing a federal investigation by directing co-workers (via email) to "clean up" their files (which the feds read to mean "destroy the evidence"), Quattrone's first trial ended in a hung jury. He was convicted in a second trial and sentenced to 18 months in prison, but his conviction was overturned on appeal.
The good news for Quattrone is that he won't face a third trial:
U.S. District Court Judge George B. Daniels approved a one-year deferred prosecution agreement, calling for the charges to be dismissed if Quattrone stays out of trouble for one year.
The agreement required no admission of guilt. This is an excellent result for Quattrone's defense team, and an embarrassment for the Southern District of New York prosecutors who handled the case.
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