Sky Capital Defendants Convicted In $140M Fraud Case

Law360, New York (July 26, 2011, 4:37 PM EDT) -- A New York jury on Tuesday convicted the founder of Sky Capital LLC and a former Sky broker of four fraud-related counts for their role in what prosecutors say was a $140 million scheme to swindle investors.

Sky Capital founder Ross Mandell, 54, and the broker, Adam Harrington, 41, remain free on bail while U.S. District Judge Paul Crotty decides whether to grant a prosecution request to take them into the custody.

The two, convicted on three fraud counts and conspiracy, were charged in June 2009...
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