Sky Capital Founder Looks To Overturn Fraud Conviction

Law360, New York (August 29, 2011, 4:32 PM EDT) -- Sky Capital LLC founder Ross Mandell, convicted in July for running a $140 million scheme to swindle investors, asked a New York federal judge Friday for acquittal, arguing the government's case lacked verifiable evidence and was largely based on speculation.

Investors who became victims of the alleged scheme testified that they understood the risks of investing with Sky, undermining prosecutors' arguments, according to the defense's memorandum in support of acquittal.

One prosecutor's off-hand comment to the jury about what “kind of person” would be wary of...
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