Ex-NYSE Examiner Plays Down Sky Capital Fraud Claims

Law360, New York (July 15, 2011, 3:24 PM EDT) -- New York brokerage Sky Capital LLC had just a few bad apples, not the widespread fraud prosecutors claim, a former New York Stock Exchange examiner said Friday while testifying on behalf of Sky Capital founder Ross Mandell and broker Adam Harrington.

Stan Schwarzman, who worked for the NYSE and a precursor to the Financial Industry Regulatory Authority before becoming Sky Capital's chief compliance officer, said any bad brokers were fired shortly after he joined the company.

“You can't just zero on the bad parts of things,”...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Related  Case: 


Case Number

1:09-cr-00662

Court

New York Southern

Nature of Suit

Date Filed

June 30, 2009

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.