Frank Quattrone, the former star Credit Suisse First Boston banker, has been sentenced to 18 months in prison for obstructing probes into suspected kickbacks involving initial public offerings by US technology companies during the 1990s.

US district judge Richard Owen handed down the sentence on Wednesday after finding that Quattrone lied during testimony at his trial. He then ordered the former financier to surrender in 50 days for his sentence at Lompoc prison, a minimum security facility in California, according to Reuters.