This time last year, it looked as if Frank Quattrone would have to spend 18 months in prison. His conviction was a victory for investors comforted by the prospect of seeing one of the Internet boom's greatest figures bearing the brunt of the punishment for the era's excesses.

Twelve months later, the former Silicon Valley investment banker is on the road to recovery. In a victory for Frank, and his many Friends, his obstruction of justice conviction was overturned by an appeals court in March.

It remains unclear whether the government will try him again for the offenses they claimed he committed during the high-tech boom in 1999 and 2000. Whatever happens in the future, right now, the Silicon Valley legend is a free man with no prison time hanging over his head.

2006 has been a very good year for him. Will 2007 mark his return to dealmaking?

For more on Quattrone, see:
Valleywag
The Deal

Tags: frank+quattrone, ipo, m&a, vc, venture capital