Ex-Sky Capital CEO Urged Hard Sell On Secret Tapes

Law360, New York (July 5, 2011, 5:10 PM EDT) -- The former CEO of brokerage Sky Capital LLC could be heard telling employees to hard-sell stock to investors as the company was failing during secretly recorded conversations played to jurors on Tuesday in a New York trial over an alleged $140 million fraud.

Prosecutors played tapes of the discussions in Manhattan federal court during the testimony of former Sky Capital broker Philip Akel, a cooperating witness who made the tapes of defendants Ross Mandell and Adam Harrington at the behest of the FBI.

“There will be...
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