This summer's blockbuster Wall Street criminal trial has nothing to do with insider trading or hedge funds, according to the NY Post. It will instead shine light on an alleged international boiler- room operation that stole $140 million from unsuspecting investors and charges that the two main characters in the purported scam spent the proceeds on prostitutes, strip clubs, private jets and expensive watches.
Ross Mandell, former CEO of Sky Capital, is at the center of the case. He is charged with having his brokers pressure clients into buying shares of companies or having them use client funds to buy shares without their consent or refusing to sell the shares upon request, according to the indictment.But the charges themselves might be the least scintillating part of the expected five-week trial.
Mandell, 54, who will be on trial alongside former Sky Capital broker Adam Harrington, is accused of lavishing incentives on his brokers to pump the shares, including trips to strip clubs -- and then used the proceeds to enrich himself, including $50,000 in watches and $2,728 for a home theater.
Mandell, who likens himself to Gordon Gekko on his Web site Rossmandell.com, and describes himself as "one of the bad boys of Wall Street," has been anything but a typical defendant awaiting trial.
He has vehemently denied the charges since his July 2009 arrest, holding interviews with the media, posting videos on YouTube to proclaim his innocence and even promoting a reality TV show based on his life….
Find out even more at:
http://www.nypost.com/p/news/business/summer_sizzler_drug_sex_tales_spice_5p2x0ZazorQsluvOFEgdZI
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