Charges In $140 Million NY Brokerage Fraud

Litigation Reports

According to Court Watch, six employees of Sky Capital Holdings Ltd turned themselves into the FBI today on charges of $140 million stock manipulation and investment fraud in the United States and Great Britain.

Those in custody include the firm's found and current president and chief executive officer, Ross Mandell. They were charged on a criminal indictment by U.S. prosecutors and a civil case by the U.S. Securities and Exchange Commission.

The charges include a two-count indictment to commit securites, wire and mail fraud with intent of defrauding investors between 1998 and 2006.

They are expected in court later today.

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