Free Republic

NEW YORK (CBS.MW) -- Former Credit Suisse First Boston star banker Frank Quattrone surrendered to federal authorities Wednesday morning and will face criminal charges, prosecutors said. James Comey, U.S. Attorney for the Southern District of New York, will unveil the charges at a 1 p.m. ET press conference. Quattrone, a former star banker for CSFB, allegedly advised his colleagues in late 2000 to destroy documents while regulators were investigating the ways Wall Street investment banks were doling out shares of lucrative initial public offerings. The former banker is charged in a three-count criminal complaint with obstruction of justice, document destruction...

<p>Regulators charged investment banker Frank Quattrone with violating a series of securities rules as he pushed to land clients for Credit Suisse First Boston.</p> <p>The National Association of Securities Dealers alleged that Quattrone improperly enticed clients by offering them the opportunity to buy shares in potentially lucrative IPOs and by promising that analysts who were supposed to be independent would provide favorable research.</p>

NEW YORK – With all the anti-establishment, power-to-the-people refrains sounded in its IPO manifesto, it's curious that Google Inc. chose to reward the most notorious investment bank of the IPO boom to spearhead the initial public offering. Although Credit Suisse First Boston presumably cleansed its reputation two years ago with a $100 million settlement of federal charges, Monday's conviction of the firm's former star banker was a perfectly timed reminder of the greedy past that shadows one of Google's new Wall Street pals. It's not that the search engine company was obligated to jeopardize its chances of a big IPO...

Reporting from Sacramento — The name of Republican gubernatorial candidate Meg Whitman, a billionaire who has been defending her ties to embattled investment banking giant Goldman Sachs throughout her campaign, appears in the federal investigation of another Wall Street firm tarnished by scandal. Court documents filed by prosecutors in the aftermath of the dot-com bust show Whitman, then chief executive of EBay, listed among about 200 executives who were to receive gifts of deeply discounted stock from Frank Quattrone, then a banker at Credit Suisse First Boston. A star dealmaker during the late 1990s, Quattrone was twice indicted on obstruction-of-justice...