The former Credit Suisse banker allegedly deliberately used his power and influence to stand in the way of a government investigation and order employees to destroy documents.
Quattrone’s lawyer portrayed him as a responsible, diligent worker who was simply following a company policy that required staffers to get rid of old documents.
Steven Peikin, an assistant U.S. attorney, told jurors in Manhattan federal court that Quattrone tried to block the federal probe in 2000 because he worried it would interfere with his livelihood.
“He chose to put the full weight of his power and position behind this document destruction effort,” Peikin said.
Quattrone made tens of millions of dollars a year at Credit Suisse First Boston during the 1990s, helping take technology companies public during the dot-com boom.
He is accused of encouraging CSFB employees to get rid of documents that were being sought by a grand jury and regulators looking into how CSFB doled out shares of initial public offerings.
Peikin, making the government’s opening argument, displayed a blown-up image of an e-mail sent by Quattrone on Dec. 5, 2000, that is at the center of the government’s case.
In the e-mail, Quattrone attached a note written by another CSFB employee that urged workers to clean out their files for the holidays. Quattrone attached his own note “strongly” encouraging the cleaning.