Frank Quattrone, the former banker who made a fortune taking hot tech companies public, has been found guilty of obstructing federal investigations into 1990's stock offerings.

Jurors delivered their verdict after deliberating about seven hours over two days, concluding the ex-banker tried to block grand jury and regulatory investigations by forwarding an e-mail to co-workers reminding them to "clean up" their files. It was the second trial for Quattrone, 48, who will likely face one to two years in prison at his sentencing, set for Sept. 8. The first trial ended in a hung jury. Quattrone, who grew up in a working-class neighborhood and later earned $120 million in one year as a banker, showed no emotion as the verdict was read. But he later hugged his crying mother.

Quattrone was represented at both trials by San Francisco's John Keker, one of the finest litigators in the country.

We are obviously grossly disappointed. I feel like we failed Frank," attorney John Keker said outside the federal courthouse where both trials were held. "He's innocent."