Penn gets $15M Quattrone gift to research justice

AP News
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Posted: May 28, 2013 8:19 PM

PHILADELPHIA (AP) — The University of Pennsylvania has received a $15 million gift to examine the U.S. criminal justice system from someone who has some experience with it: banker Frank Quattrone.

Penn announced Tuesday that it's establishing the Quattrone Center for the Fair Administration of Justice. Scholars at the research and policy center in Philadelphia will identify, analyze and propose solutions for problems with the justice system.

Quattrone was found guilty of obstructing a federal probe into initial public stock offerings at Credit Suisse First Boston. The conviction was tossed out on appeal. In 2006, prosecutors agreed to dismiss the charges if he stayed out of trouble for a year. He admitted no wrongdoing.

A spokeswoman for Quattrone's investment bank, Qatalyst Partners, said he was not available for comment.