Wall Street 'bad boy' talks about NY trial
NEW YORK (AP) — A former investment manager known as Wall Street's "bad boy" says he's relieved to finally reach trial on charges he cooked up a $140 million securities fraud scheme.
Ross Mandell told The Associated Press on Friday that he thinks a key government witness bombed on the stand. He also believes his chances for acquittal in Manhattan federal court are so good he won't need to testify in his own defense.
The government has portrayed the Brooklyn-born Mandell and a co-defendant as brazen con men who took advantage of the frenzy over Internet tech stocks in soliciting private investments in startups. Prosecutors allege the men spent the money on watches, cars and strippers.
Mandell said he never lied to his clients.
If convicted, he faces up to 20 years in prison.