The Frank Quattrone Prosecution: Well That Was Pretty Much A Waste of Time

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What did the prosecution of Frank Quattrone accomplish? More than three years and two trials after prosecutors first charged him with obstruction of justice—one of those meta-crimes that prosecutors resort to when they cannot prove more substantive crimes—Frank Quattrone has reached a settlement agreement that will dismiss all charges against him if he avoids breaking the law for one year. How much was spent by the US government to twice prosecute this man only to accomplish a one-year promise of good behavior? How much did Quattrone have to spend on his defense? How many deals never got done because Quattrone was kept out of Silicon Valley while he defended himself?
The only good to come of any of this seems to be a reminder that we need to remain skeptical of prosecutors eager to find wrong-doing among entrepreneurs and bankers. But that sure was a costly reminder.

US judge oks Quattrone settlement, avoids trial
[Reuters]

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