Preet Bharara, the United States Attorney for the Southern District of New York, announced that ROSS MANDELL, a former Chief Executive Officer of Sky Capital, LLC, a brokerage firm, and related Sky Capital companies, was sentenced today in Manhattan federal court to 12 years in prison.
MANDELL was the leader of a scheme to defraud investors through two successive securities broker-dealers that he controlled – The Thornwater Company, L.P. and Sky Capital, LLC. In July 2011, he was convicted of conspiracy, securities fraud, wire fraud, and mail fraud charges after a five-week jury trial before U.S. District Judge Paul A. Crotty.
