Updated from 11:41 a.m.
Former tech banker Frank Quattrone reached an agreement with prosecutors that will allow him to return to the securities industry.
A federal judge approved a so-called deferred prosecution agreement Tuesday under which charges against Quattrone will be dismissed if he doesn't break the law for a year.
Quattrone, a former Credit Suisse Group investment banker, was convicted two years ago of obstructing an investigation. But an appeals court overturned the conviction in March. Under the deal announced Tuesday, Quattrone admitted no wrongdoing.
"I'm very pleased that the case will be concluded and I look forward to the formal dismissal of all charges," Quattrone said in a press statement Tuesday. "I plan to resume my business career, while continuing my board service at the Innocence Project and the Tech Museum of Innovation."
News of the deferred prosecution arrangement was first
reported last week by
The New York Times
Quattrone became a symbol for the greed and excess of the late '90s technology boom. His first trial on obstruction of justice charges ended in a mistrial. He later was convicted in a second trial, and received an 18-month sentence in September 2004, although he remained free pending an appeal. In March, a federal appellate court overturned the conviction.
The case against Quattrone stemmed from a single email in which he recommended that his staff at
clean out their files and destroy documents. Quattrone and his lawyers portrayed the email as a routine Wall Street housekeeping move.
"Thanks to all of you who stood by me during the past four years," Quattrone said Tuesday. "God bless you all."