Ex-Sky Capital CEO Portrayed As Dreamer, Schemer

Law360, New York (June 21, 2011, 7:24 PM EDT) -- Prosecutors and defense lawyers offered competing portraits of Sky Capital LLC's former CEO during opening statements Tuesday in a New York trial over an alleged $140 million investment fraud: a lying, cheating schemer versus an ambitious broker with a dream.

Assistant U.S. Attorney Pablo Quinones told jurors that ex-Sky CEO Ross Mandell and co-defendant Adam Harrington promised investors they would make big returns by sinking money into private companies allegedly expected to go public. In reality, few if any of those deals were pulled off and...
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