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Sky Capital Founder Mandell Convicted in $140 Million Fraud

Sky Capital Holdings Ltd. founder Ross Mandell was convicted of operating what the U.S. said was an eight-year long scheme that defrauded investors out of $140 million.

Mandell, 54, of Boca Raton, Florida, was found guilty yesterday by a federal jury in New York of all four counts he was charged with, conspiracy, securities fraud, wire fraud and mail fraud, after a trial before U.S. District Judge Paul Crotty in Manhattan.