Six At Sky Capital Charged Over $140M Fraud

Law360, New York (July 8, 2009, 12:00 AM EDT) -- The founder of Sky Capital LLC and five individuals affiliated with the Wall Street brokerage have been charged over an alleged fraud scheme that raised $140 million from investors and left them holding worthless stock.

U.S. Attorney for the Southern District of New York Lev Dassin said Sky Capital founder and former CEO Ross Mandell and five others had been charged with conspiracy and securities fraud in a two-count indictment unsealed in the Manhattan district court on Wednesday.

The six, who surrendered to the FBI on...
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