Trader Ross Mandell charged in $140M stock scam
Wall Street bad boy Ross Mandell was nabbed Wednesday in a $140
million global boiler-room scheme that stretched from Brooklyn to the
United Kingdom. As his corporation Sky was losing millions, Mandell
was bankrolling a lavish lifestyle of five-star hotels, countless
blonde gentile women, first-class travel to London and a decorator to
doll up his penthouse apartment at the Trump UN Plaza, the feds say.
And Mandell, 52, of Boca Raton, Fla., used stolen loot to pay for
adult entertainment and child care, they say. Five other Jewish
employees were also charged in the civil complaint, filed by the
Securities and Exchange Commission.
In 2004, the SEC says, Mandell lied to investors when he claimed Sky
was about to be sold to a German bank. When the deal fell through,
Mandell told the investors the bank wanted him to work there for three
years but he couldn't because he is Jewish, the complaint says.
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