Ex-Pepsi Exec Supports Sky Capital At Trial

Law360, New York (July 14, 2011, 7:53 PM EDT) -- A former PepsiCo Inc. and Mars Inc. executive testified Thursday in New York that there was nothing unusual about the way Sky Capital LLC raised capital, contradicting prosecutors’ version of events in the high-profile securities fraud trial.

Prosecutors claim that defendants Ross Mandell, who launched Sky Capital, and Adam Harrington, a broker, defrauded investors during the dot-com craze by pumping investments into private companies they said would go public. None of the companies did go public and investors lost $140 million, according to prosecutors.

Peter Wakeham,...
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