updated 7/12/2004 6:34:03 PM ET 2004-07-12T22:34:03

A judge has denied a request for a new trial filed by Frank Quattrone, the former standout investment banker convicted in May of obstructing a federal probe into stock allocation.

Defense lawyers had argued that U.S. District Judge Richard Owen, who oversaw the trial, gave misleading instructions to the jury that made it more likely the panel would convict Quattrone.

But Owen denied the motion at a hearing Friday, said Bob Chlopak, a Quattrone spokesman.

Quattrone, 48, was found guilty of obstructing an investigation into how his bank, Credit Suisse First Boston, allocated shares of hot new stock offerings during the Internet stock boom.

The case hinged on a December 2000 e-mail in which Quattrone endorsed a colleague’s suggestion that bankers “clean up” their files. The banker said he was following bank policy.

Quattrone could get more than a year in federal prison. His sentencing is set for Sept. 8.

© 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.71%
$30K home equity loan FICO 5.26%
$75K home equity loan FICO 4.70%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.14%
17.14%
Source: Bankrate.com