A self-described “bad boy,” Ross Mandell is on trial for a “decade-long scheme to pump unwitting investors for money to fund pipe-dream companies,” the New York Post reported.Mandell used to manage Sky Capital, and says it was four or five rogue traders who are responsible for pilfering $140 million, not him.
But an old friend and Sky stockbroker testified yesterday that Mandell was the main man and “blew the profits from the fraud on a swinging lifestyle, including birthday parties, strip clubs and prostitutes,” according to the Post.
The former broker, Robert Grabowski, said that Mandell falsely told investors that he was taking a great new company called TicketPlanet.com, public. He apparently told investors that it would compete with Priceline.com and that while they had William Shatner, TicketPlanet would have their own Star Trek actor, Leonard Nimoy, aka Spock.
Mandell loves the promotion his trial has offered and even posted “photos of his perp walk on his promotional website,” according to the AP. He updates his site with news stories about the trial, and photos of him working out.
His tagline is: “Provocative. Controversial. Powerful.”
During Grabowski’s testimony yesterday, a judge ordered Mandell to stop smirking after a complaint from one of the DA’s, that Mandell was “snickering, saying ‘No,’ and shaking his head” during her direct examination.
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