“Frank P. Quattrone, the former star technology banker at Credit Suisse First Boston, was indicted by a federal grand jury yesterday on charges that he obstructed justice and destroyed evidence,” writes Landon Thomas in today’s New York Times.

“Mr. Quattrone’s legal team is expected to mount a vigorous courtroom battle against prosecutors hoping for the first criminal conviction of a financier stemming from the stock market collapse.”

“The charges — which will be brought in the Southern District of New York before Richard Owen, who has the status of a senior judge — are broadly similar to a criminal complaint brought against Mr. Quattrone by the United States attorney’s office late in April. They state that in December 2000, Mr. Quattrone, who then headed Credit Suisse’s investment banking division for technology companies, endorsed an e-mail recommendation from a colleague that his bankers destroy their files in advance of an expected onslaught of civil lawsuits.”

“Prosecutors contend that Mr. Quattrone had been warned days earlier by Credit Suisse lawyers that regulators and prosecutors from the Southern District had issued subpoenas asking for documents concerning the allocation of hot stock offerings to Credit Suisse’s prized corporate clients.”

“The charges are being denied by Mr. Quattrone’s legal team, led by John W. Keker, a former prosecutor of Oliver L. North during the Iran-contra trial and the lawyer for Andrew S. Fastow, the former chief financial officer of Enron.”

” ‘Frank Quattrone is innocent,’ Mr. Keker said in a statement yesterday. ‘He is charged with a crime that he did not commit. We will request a speedy trial and we are confident the jury verdict will establish Frank’s innocence and reaffirm his honesty and integrity.’ “

“Mr. Keker has engaged in a public campaign that suggests a possible outline of the defense. He has asked the government to prove that Mr. Quattrone had specific knowledge that the subpoenas sought documents from his investment banking department. Mr. Keker contends that Mr. Quattrone never saw the subpoenas and thus was not aware when he sent the e-mail message that the investigation into public offering practices in Credit Suisse’s equities division carried over to his investment banking unit.”