Wall Street Ire No Reason To Convict, Ex-Sky CEO Says

Law360, New York (July 21, 2011, 6:31 PM EDT) -- A lawyer for self-described Wall Street “bad boy” Ross Mandell asked jurors in New York on Thursday not to let recession-induced rancor toward spendthrift bankers affect deliberations over whether the Sky Capital LLC founder led a $140 million stock sales fraud.

Defense attorney Jeffrey C. Hoffman delivered roughly five hours of closing arguments in Manhattan federal court, saying prosecutors had unfairly targeted Mandell's spending on a luxury hotel in London, adult entertainment and other perks.

The founder of brokerage Sky is being tried for conspiracy and...
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