A former banker who won a new trial because of a lying juror in the Jenkens & Gilchrist fraudulent tax shelter case will not have to face a jury or the prospect of prison.

The government on Monday granted a deferred prosecution agreement to David Parse, a one-time Deutsche Bank Alex.Brown banker who was convicted in the bogus shelter scheme in 2011 by a jury that included suspended lawyer Catherine M. Conrad, who told several lies in what Southern District Judge William Pauley said was a “calculated, criminal decision” to get on the panel.

After Judge Laura Taylor Swain agreed to exclude time under the Speedy Trial Act in order for the one-year deferred prosecution agreement to play out, Parse stood and hugged and slapped the backs of his lawyers, Barry Berke and Paul Schoeman, partners at Kramer Levin Naftalis & Frankel, who would have represented him at retrial, and Alexandra Shapiro of Shapiro Arato, who successfully argued on Parse's behalf at the U.S. Court of Appeals for the Second Circuit.