 Me Quattrone maintains his innocence |
Former Wall Street star Frank Quattrone has been hit with criminal charges of obstruction of justice and witness tampering, part of an ongoing investigation into malpractice around share flotations. New York state attorney general Eliot Spitzer filed the charges against Mr Quattrone, until last month head of hi-tech banking at financial powerhouse Credit Suisse First Boston (CSFB).
The charges relate to alleged attempts by Mr Quattrone to hide evidence of his investment banking transactions, despite apparently knowing that his activities were being investigated.
Mr Quattrone's department, one of the hottest on Wall Street during the hi-tech boom, has been accused of issuing biased research and unfairly allocating shares in sought-after flotations.
Troubles mount
The charges are the latest in a series of blows to CSFB in recent months.
In March, regulator NASD accused Mr Quattrone of corruption, over his attempts to win lucrative investment banking business.
The firm has also been among those accused of blurring the divide between investment banking and supposedly impartial share research, something that has angered many investors burnt in the recent market slump.
Through his lawyer, Mr Quattrone has denied all charges.
"Frank Quattrone is innocent," said lawyer John Keker.
"He never obstructed justice. The only way we can prove that is to try this case, which is why we will ask that the jury trial occur at the earliest possible moment."
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