More From Eric Dixon at http://www.NYBusinessCounsel.com

Support Independent Investigations With Bitcoin:
Send Bitcoin Here: 171GMeYRD7CaY6tkXs8dSTjLbAtFazxhVL

Top 50 Twitter Rank of Worldwide Startup Advisors For Much of 2014
. Go to my professional site for solutions to your legal, business and strategic problems. The only lawyer who is a co-inventor of multiple, allowed-for-grant patents on blockchain technology!!! Blockchain and Digital Currency Protocol Development --
Top Strategic Judgment -- When You Need A Fixer -- Explore Information Protection and Cryptographic Security -- MUST-WIN: JUST DON'T LOSE -- SURVIVE!: Under Investigation? Being Sued? Handling Extreme Stress -- Corporate Issues -- Startup Issues -- Investor Issues -- Contracts To Meet Your Needs -- Opposition Research -- Intellectual Property, Media and Reputation Issues -- Independent, top-notch legal, strategic and personal advice -- Extensive ghostwriting, speechwriting, book writing, issue research, press and crisis management services. Listed by American Bar Association's Law Bloggers (Blawgers). Contact EDixon@NYBusinessCounsel.com. European Union audiences: This site uses a third party site administrator which may use cookies but this site is intended for AMERICAN clients and prospective clients only!

Monday, October 24, 2011

Sky Capital Post-Conviction Updates

An interesting battle on legal grounds is shaping up in New York City, regarding two recent criminal convictions which will test whether the securities fraud provisions of the Exchange Act of 1934 apply to sales and purchases of securities outside the United States.

The battle originates from the convictions of Ross Mandell and Adam Harrington, principals of the now-defunct brokerage firm Sky Capital, for securities fraud in a case which seems to have generated peculiar interest from the federal government.

Both men are currently seeking to have their convictions overturned by trial judge Paul Crotty, whose pretrial rulings and trial decisions seemed to weigh strongly in the government's favor.  It is likely the convictions will stand, with the stage being set for a real fight before the Second Circuit Court of Appeals.  The basis for the challenge, and the appeals that are certain to follow, will be the interpretation of the recent 2010 Supreme Court case of Morrison v. National Australia Bank Ltd.  The Morrison case involved a civil proceeding about which the Court held that Section 10(b) of the Exchange Act only applied to United States transactions.  The Sky Capital defendants argue that the bases for their convictions are transactions which occurred outside the United States. 

Eric Dixon is a New York investigative attorney.


 

No comments:

Post a Comment