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March 20, 2006
Frank (Quattrone) is Free
The U.S. Second Circuit Court of Appeals decision is out on the prior decision against investment banker Frank Quattrone in a tech IPO-related obstruction of justice case. The three-judge panel overturned the Quattrone conviction and asked that the case be assigned to a new judge.The issues are somewhat technical, centering largely on whether the judge's instructions and prosecutor's permitted line of questioning prejudiced the jury, but the effect is the same: Frank is Free. Well, free for now anyway, as this case has already been through two full trials, and now looks set for a third.
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Frank and George and company are well liked in the valley. Their only crime is hubris. But they love what they do and they are damn good at it.