Partnership Will Relocate Conference to Featherstone
After concerns arose last week about noise and crowding, a leadership development conference planned for early June in Oak Bluffs will change venues.
“To accommodate a much larger-than-expected group, we will relocate the conference to the Featherstone Center for the Arts,” Sean Findlen, a spokesman for The Partnership Inc., wrote in an email to the Gazette. A career mentoring firm dedicated to professional support in management and at executive levels for people of color, The Partnership is celebrating its 25th anniversary this year. American Express chief executive officer Ken Chenault is the keynote speaker. Organizers had planned to hold the leadership conference at the Island Inn in Oak Bluffs. Between 300 and 400 people are expected to attend, a large increase over the last time The Partnership hosted its conference on the Island, 10 years ago.
Ann Smith, executive director of Featherstone, volunteered the use of the arts center’s Barnes Road campus following a lengthy debate before the Oak Bluffs selectmen late last week when the Harthaven Association objected to the planned use of a tent at the weekend conference. Ms. Smith had attended the meeting to request an annual entertainment license for Featherstone’s summer flea market and Musical Mondays series.
“We are happy to have them, we have the space available,” she told the Gazette. She stressed that she did not intend to take anything away from the Island Inn, and that it was rare for Featherstone to host such large private gatherings.
Organizers for The Partnership had first asked to put up a tent at the Island Inn during the weekend of June 7 to 9. Carol Fulp, president and chief executive officer of The Partnership, attended the selectmen’s meeting last Thursday to answer questions about the proposal.
Ms. Fulp, who has been an Island resident for 14 years, stressed that the event coordinators wanted to be sensitive to the neighboring homeowners.
“We want to make sure that we have an event that is totally respectful of the community,” she said.
Last year, amid strenuous objections from Harthaven residents, selectmen denied a request from the Harlem Fine Arts show to use tents on the property of Hooked restaurant, on the grounds that it was a zoning violation.
The Partnership’s leadership conference was planned for the Island Inn, adjacent to Hooked but on a different property. There was some confusion over why The Partnership’s proposed tent was different.
Board chairman Walter Vail and town administrator Robert Whritenour said town building inspector James Dunn had previously determined that a tent at the inn, which already hosts conferences, would not be an expansion of a nonconforming use. Mr. Whritenour said the determination was not a final say.
The tent item was on the agenda to offer residents a chance to voice their opinion on the matter, Mr. Vail said. A number of residents, many from neighboring Harthaven, spoke.
“It’s a commercial operation overextending its footprint in a residential location,” Harthaven Community Association president Alfred Woollacutt said.
“They have a meeting room that is capable of holding 200 people; I don’t know why they need a tent,” he also said, citing concerns about traffic overflow in the Island Inn and Hooked parking lot. Mrs. Fulp said most people attending the conference would arrive via public transit or taxi, and that she did not expect a large influx of private vehicles.
Island Inn proprietor Derek Tipton said the inn has hosted The Partnership five times in the past, including their 10-year anniversary event.
Selectman Gail Barmakian said she was concerned about the conference serving beer and wine during meals without a permit. The fee to attend the conference, which includes meals, could be interpreted as charging admissions, which would require a one or two-day liquor license, she said.
The board asked Ms. Fulp and her fellow organizers to apply for a one-day liquor license. Early this week the Partnership announced it would move the conference to Featherstone.
Aphrodisiac Nite club opens in Kumasi – Citifmonline.com
The Chief Executive Officer of one of Accra’s hottest night clubs ‘Aphrodisiac’ Confidence Haugen has given indications that the garden city would soon be experiencing the aphrodisiac fever as she prepares to open a branch there.
Confidence who represented Ghana at the just ended Big Brother Africa Amplified competition has not given full details of when and where the club would be unveiled in the Ghana city but it is very likely to be before the end of the year.
Fans of the confident Confidence would be able to meet her on the day of the grand opening which is expected to be a grand event.
By: Martin Asiedu-Dartey/Citifmonline.com
Strip Clubs Say Business is Booming
“My clientele are corporate, businessmen and international male travelers. They are not the boys – the boys go to other clubs,” he said. “The Americans are still very good business when they come in as they use my clubs for entertaining clients. They have either done a deal or are doing a deal….these are the ones who are happy to spend three or four thousand pounds.”
(Read More: Inside the Business of Porn)
Strip clubs in London are operating against a tough backdrop of rising debt, increased taxation and a decline in consumer spending. The U.K. economy is now close to entering a recession for the third time since the 2008 global financial crisis.
“Last year was an okay year and this year is going to be nothing than another okay year,” Stringfellow said, adding that business was not as good as it was three years ago.
London’s financial center and its 370,000 employees have been hit hard by global banking cuts, with thousands of job losses announced in the U.K. and Europe.
(Read More: Strip Clubs, Bars Feel the Pain of London Banking Cuts)
“Those that have suffered are the middle men in the financial markets, those with big mortgages that have suffered because of ferocious taxes…The man that could come into town and spend 300-400 pounds a night is thinning off a bit,” Stringfellow said.
What About ‘The Girls’?
John Gray, chairman and chief executive officer of Spearmint Rhino, the world’s largest operator of strip clubs, told CNBC that sales for the last decade had remained for the most part consistent, at just under $200 million annually, a factor he attributed to the need for people to seek solace from their economic woes.
“In our industry it does not take much money to come in and relax, have some fun and forget for a while the problems of the world outside our four walls. Indeed often when the world’s problems hit a customer – he seeks such excursions,” he said.
(Read More: The Dirty Dozen 2013: Porn’s Most Popular Stars)
New look e-book for the 2012-13 Melbourne Planners’ Guide – TravelDailyNews Asia
New look e-book for the 2012-13 Melbourne Planners’ Guide
Tatiana Rokou – 14 December 2012, 08:23
The online version of the Guide can be easily accessed by event planners on their smartphone, tablet or computer, meaning that MCVB is only a few clicks away.
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MELBOURNE – The Melbourne Convention + Visitors Bureau (MCVB) launched the 2012-13 edition of the Melbourne Planners’ Guide, which for the first time is available as an interactive e-book.
As part of MCVB’s digital strategy, the online version of the Guide has been revitalised to a format that can be easily accessed by event planners on their smartphone, tablet or computer, meaning that MCVB’s in-depth planning knowledge is only a few clicks away.
The new e-book offers the same convenience of the traditional Guide website, but in addition, also features video content and allows planners to zoom in, print and share selected pages via email or social media sites.
The e-book will also allow planners to easily navigate through the contents or thumbnail menus, providing an easy-to-follow outline of the Guide, which is perfect for those who are time poor to access product information quickly.
MCVB’s Chief Executive Officer, Karen Bolinger, said the Melbourne Planners’ Guide 2012-13 was an invaluable source of information for event planners.
“MCVB is always looking for new and innovative ways to promote business events in Victoria, so converting the 2012-2013 edition of the Guide from a website to an interactive e-book was a natural progression for us,” Ms Bolinger said.
“The e-book format transforms the Guide from a reference document to a functional tool; an essential companion that gives on-the-go planners a wealth of knowledge at their fingertips.”
Ms Bolinger added that the Guide was a testament to Melbourne’s standing as one of the world’s premier business events destinations.
“The state-of-the-art facilities, professional services and world-class infrastructure detailed in the Guide reinforces Melbourne’s status as the business events capital of Australia, as recognised by the International Congress and Convention Association (ICCA) in their Country and City Rankings Report 2011released in May,” Ms Bolinger said.
“I would like to thank our members and strategic partners for their contribution to the Guide which is the flagship publication of the Victorian business events industry.”
SubtleData™ Debuts Developer Platform, Announces CEO Appointment and …
SubtleData has integrated with the leading Point of Sale systems, and put various interfaces into a single, standardized interface available from the company’s cloud platform.
Austin, TX (PRWEB) November 13, 2012
SubtleData™ Inc., the company that connects mobile applications to Point of Sale systems, today announced the general availability of their platform for Point of Sale applications, along with a new Chief Executive Officer appointment and an oversubscribed seed round of funding. The news comes as the company has been experiencing global adoption of their technology within the developer community.
The company announced that over 200 companies are developing applications on the patent-pending SubtleData platform, which makes it simple for developers to tap into the most common Point of Sale systems in use at service industry locations nationwide. The range of applications being developed empower consumers to split checks at restaurants, purchase drinks for their friends, track loyalty and rewards points, and even connect with other people at the hottest night clubs.
“Working with SubtleData has been a pleasure for our development team,” said Jeff McGregor, CEO of Dash. “Their depth of knowledge was clear the first time we looked at their API documentation. The SubtleData technical team even wrote custom API calls for our use, a tremendous added value. They easily cut our time to market in half.”
Dash is a smartphone application that allows users to open, view, split and pay their restaurant and bar tabs, as well as receive targeted loyalty offers from their favorite venues, and share information through leading social media outlets.
With hundreds of Point of Sale companies in the U.S., the process of developing mobile applications that interact with bar, restaurant, hotel, or retail store systems is incredibly complex and time-consuming. SubtleData has integrated with the leading Point of Sale systems, and put various interfaces into a single, standardized interface available from the company’s cloud platform. This allows any developer to utilize the write-once and deploy-many platform to reduce time to market, easily integrate their applications across a wide range of Point of Sale systems, and expand their potential customer base.
Kyle O’Connor, CEO of Me+1, a Washington, DC-based mobile payment application targeting bars and restaurants said, “We estimated that it was going to take us six months and over six figures to get our app to integrate with just one Point of Sale system. With SubtleData we were instantly integrated with all of the major POS systems with no upfront costs.”
SubtleData also announced the addition of Bryan Menell as Chief Executive Officer, joining Richard Bagdonas, company founder and Chief Technology Officer, on the executive team. Mr. Menell most recently spent three years as an executive at the Dachis Group in Austin, Texas, and has previously founded several technology companies including publicly-traded Perficient®. Mr. Bagdonas has been a founder and executive at several technology companies previously including Remote Operations™ and publicly-traded company Prosoft Training.
While funding is a challenge for any company, SubtleData leveraged the popular social investor network AngelList to raise seed funding. During the fundraising process, the company was the #1 trending company on AngelList, helping drive the company’s $500,000 Seed Round to quickly be over-subscribed.
“We’re extremely fortunate to have a group of investors that are bringing key customer and developer relationships to us along with their investment” said Bryan Menell. “This provides us with significant momentum as we continue to expand our Point of Sale integrations and number of mobile developers.”
The SubtleData platform is available to developers today. For more information, please visit: http://subtledata.com/
Connect with us on Twitter at: https://twitter.com/subtledata
Connect with us on Facebook at: http://www.facebook.com/subtledata
About SubtleData
SubtleData is the world’s leading Platform for Point of Sale apps. SubtleData designs, develops, and manages Application Programming Interfaces (APIs) that connect mobile devices to the majority of existing Point of Sale systems in a platform-as-a-service environment. This provides application developers with a write-once, deploy-many platform that saves them money, reduces their time to market, simplifies their system integration effort across a wide range of Point of Sale systems, and expands their potential customer base. The company continues to add support for new POS systems and versions within those POS systems.
To develop on the SubtleData platform, simply register for a free developer account at https://www.subtledata.com/start, and sign up for a 1:1 tour of SubtleData APIs.
To find out how SubtleData can help your business, contact info(at)subtledata(dot)com or call us at (202) 552-8700.
We are hiring. SubtleData is always looking for talented technology professionals to join our team. Contact work(at)subtledata(dot)com.
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SubtleData™ Debuts Developer Platform, Announces CEO Appointment and … – Virtual
Over 200 Developers Using the Patent-Pending SubtleData Platform to Deliver New Applications
Austin, TX (PRWEB) November 13, 2012
SubtleData™ Inc., the company that connects mobile applications to Point of Sale systems, today announced the general availability of their platform for Point of Sale applications, along with a new Chief Executive Officer appointment and an oversubscribed seed round of funding. The news comes as the company has been experiencing global adoption of their technology within the developer community.
The company announced that over 200 companies are developing applications on the patent-pending SubtleData platform, which makes it simple for developers to tap into the most common Point of Sale systems in use at service industry locations nationwide. The range of applications being developed empower consumers to split checks at restaurants, purchase drinks for their friends, track loyalty and rewards points, and even connect with other people at the hottest night clubs.
“Working with SubtleData has been a pleasure for our development team,” said Jeff McGregor, CEO of Dash. “Their depth of knowledge was clear the first time we looked at their API documentation. The SubtleData technical team even wrote custom API calls for our use, a tremendous added value. They easily cut our time to market in half.”
Dash is a smartphone application that allows users to open, view, split and pay their restaurant and bar tabs, as well as receive targeted loyalty offers from their favorite venues, and share information through leading social media outlets.
With hundreds of Point of Sale companies in the U.S., the process of developing mobile applications that interact with bar, restaurant, hotel, or retail store systems is incredibly complex and time-consuming. SubtleData has integrated with the leading Point of Sale systems, and put various interfaces into a single, standardized interface available from the company’s cloud platform. This allows any developer to utilize the write-once and deploy-many platform to reduce time to market, easily integrate their applications across a wide range of Point of Sale systems, and expand their potential customer base.
Kyle O’Connor, CEO of Me+1, a Washington, DC-based mobile payment application targeting bars and restaurants said, “We estimated that it was going to take us six months and over six figures to get our app to integrate with just one Point of Sale system. With SubtleData we were instantly integrated with all of the major POS systems with no upfront costs.”
SubtleData also announced the addition of Bryan Menell as Chief Executive Officer, joining Richard Bagdonas, company founder and Chief Technology Officer, on the executive team. Mr. Menell most recently spent three years as an executive at the Dachis Group in Austin, Texas, and has previously founded several technology companies including publicly-traded Perficient®. Mr. Bagdonas has been a founder and executive at several technology companies previously including Remote Operations™ and publicly-traded company Prosoft Training.
While funding is a challenge for any company, SubtleData leveraged the popular social investor network AngelList to raise seed funding. During the fundraising process, the company was the #1 trending company on AngelList, helping drive the company’s $500,000 Seed Round to quickly be over-subscribed.
“We’re extremely fortunate to have a group of investors that are bringing key customer and developer relationships to us along with their investment” said Bryan Menell. “This provides us with significant momentum as we continue to expand our Point of Sale integrations and number of mobile developers.”
The SubtleData platform is available to developers today. For more information, please visit: http://subtledata.com/
Connect with us on Twitter at: https://twitter.com/subtledata
Connect with us on Facebook at: http://www.facebook.com/subtledata
About SubtleData
Party Photos of the Week: Canada Club
London’s Canada Club has seen its share of luminary speakers in its 202-year history. One of the oldest dining clubs in London, it has counted Sir Winston Churchill and polar explorer Robert Scott among its esteemed speakers. On Oct. 9, the Club welcomed Piers Handling, director and chief executive officer of the Toronto International Film Festival, to speak to a capacity crowd of Canada Club Members and British film industry professionals at the Canada Club Autumn Dinner. The event was held at BAFTA – the British Academy of Film and Television Arts – home of the British Film Industry, this year celebrating its 65th anniversary.
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Inge Moesen and Mark Camilleri
(Amanda Clay Photography)
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Gabrielle de Wardener and Adrian Wootton
(Amanda Clay Photography)
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Sir Christopher Ondaatje, Lady Ondaatje, Piers Handling, Lisa Tomas, John Bragg
(Amanda Clay Photography)
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Susan Gregson
(Amanda Clay Photography)
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Alexander Malmaeus, Jacqueline Appel, Carol Appel, David Appel
(Amanda Clay Photography)
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Amanda Berry
(Amanda Clay Photography)
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Tyrone Walker-Hebborn and Stephen Woolley
(Amanda Clay Photography)
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Donna Abraham, William Abraham, Derek Linfield, Joan Hampson, Christopher Hampson
(Amanda Clay Photography)
Event planners learn business while still in high school
Event planners learn business while still in high school
Written by by CJ Bedell, Press Intern
Friday, 15 June 2012 15:34
For Zach LaMotta and Matthew Gerstenfeld of Ridgefield High School, and Ian Bick of Danbury, being young has not stopped them from running their own business. They’re all 17 now, and first kicked off their party and event planning business “This Is Where It’s At Entertainment” in 2010.
Zach is the chief business officer (CBO), which entails a lot of planning. Mathew is the chief financial officer (CFO), which involves financial planning and managing the financial risks of the company.
Ian is the chief executive officer (CEO) and was the one who originally founded the company.
There’s a lot of work that goes into planning an event like a concert. There are a lot loose ends that need to be dealt with.
“We like to leave no less than eight weeks to promote an event,” said Zach. “During this we handle the marketing, advertising, expenses, etc. We need to take care of everything from security to beverages to insurance to fire marshals. Depending on the event, something else can pop up at any time and we need to adjust for that as well.”
It was his entrepreneurial spirit that gave him the desire to get involved in business at such a young age.
“The company gives me the opportunity to stretch my entrepreneurial mindset, experience marketing and advertising, receive a taste at what it is like to hold an executive position, and most importantly to have fun while doing it all. And that’s why we are still around, pushing forward and doing what we like to best: entertain,” he said.
The idea of starting a business so young was met with some concerns by Zach’s friends and family.
“There were, and still are, definitely times where it seems like it is hard to preach to others that we are in this for the long run,” said Zach.
This Is Where It’s At Entertainment has hosted about 20 events, which have included dances, charity events, raves, lighting and production jobs, and they have even expanded to catering.
Their larger events typical average 500 to 1,000 people, and they also do small scale events such as catering jobs or birthday parties.
Anything really stand out?
”The most memorable by far would be our teen night, Intensity 2012, held at Tuxedo Junction in Danbury. It was a paint party modeled after Day Glow in which hundreds of gallons of paint were launched and exploded into the crowd all night long. We brought in just under 1,000 people and completely packed the small night club.
“It was extremely fulfilling to see the hard work pay off in the end,” said Zach.
The business has expanded the young entrepreneurs’ horizons.
“We’re able to learn so much as we continue to grow and we are able to experience a career opportunity as well as work with professionals in the industry,” he said.
According to Zach, the most difficult thing is juggling with other aspects of life, such as school. “Defined priorities” are a must, he said.
“I may have to miss a meeting to study for a big exam in school the next day, or vice versa — it’s part of the job,” he said.
Starting a business is also a way to get a real world education.
“Oh, without a doubt. That is a huge motivating factor for what we are doing,” Zach said.
“The reality is that school doesn’t teach you a vast percentage of the real world knowledge that is necessary for success,” Zach said.
“Education is truly important but it is only a part. We learn from doing; we go out and talk to people who make a living doing exactly what we are doing. Additionally, the work that we do as a company helps us branch out in other areas as well, enabling us to gain even more knowledge and experience,” he said.
Zach, who is just finishing his junior year of high school, has even started to think about what his college major will be. He knows it will involve business in some form or another. Zach plans on taking classes in economics and politic science and studying entreprenneurship. He has not ruled out the possibility of a pre-law track with the hopes of obtaining a professional degree at graduate school.
One of the partners, Matthew Gerstenfeld, is going to college this fall, but the company will continue to put on events — a fall concert is already in the works.
Zach is not worried about distance being issue. The business partners can utilize various forms of social media such as Skype, Facebook and Twitter.
Branching out into different directions might even help the company.
“If anything, going to school across the country would only open up our networking and provide access to new venues, performers, etc.,” Zach said.
“For example, we have been approached by a college student in Rhode Island to bring artists like Steve Aoki, Avicii, and DJ Chuckie to do shows. Distance is not much of an issue.”
The concert being planned for the fall is a hip hop event at WestConn’s O’Neill Center — a basketball arena where Ridgefield and other high schools hold graduations because it’s one of the largest in the area.
“After successfully doing smaller events in the area, we are currently in the process or organizing a full-on concert at the O’Neill Center in Danbury,” Zach said. “This takes a lot more work, liability, and preparation because we would be organizing the entire thing. There is no club insurance policy to cover us, or a regular staff/security.
“For a concert of this level we would seek to bring in between 4,000 and 5,000 people,” he said. “We would need to provide the artists (travel, contracts, riders, openers, etc), insurance, lighting, sound, security, fire marshals, police officers, legal contracts, promoters, advertisement, etc.
“It is basically taking a clean slate and creating a huge show,” he said.
The partners are working on bringing in well-known hip hop artists Big Sean and Curren$y and maybe Kendrick Lamar.
“We would be financing the event with personal money but also a large chunk from investors.”
Zach has no problem with the idea that starting a business might not be typical of teenagers.
“As for friends, right now it seems that we are doing something ‘cool’ and unique and giving the town something different to do recreationally,” he said. “What we do definitely makes us stand out, as we are not involved with the ‘normal’ high school job.”
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‘Bad boy’ ex-investment manager sentenced in NYC
NEW YORK (AP) – A former investment manager known as Wall Street’s “bad boy” was sentenced Thursday to 12 years in prison.
Ross Mandell was sentenced by Judge Paul Crotty for his conviction at trial last summer on conspiracy and securities fraud charges. The government said he defrauded U.S. and European investors of $140 million and asked that he be sent away for life.
“I’m not asking you for leniency today Judge Crotty, I’m begging you. I’m pleading with you,” the former chief executive officer of Sky Capital said before the judge announced his sentence. Mandell was also ordered to forfeit $50 million. He must report to prison June 18.
“It was never my intention to cheat or steal,” Mandell said during lengthy remarks to the court. “I’ve never taken any money from anyone sir.”
Sky Capital had offices in London, New York, Florida and New Jersey. His lawyer has promised to appeal.
The trial captured the hard-partying lifestyle brokers enjoyed during the dot-com boom of the late 1990s and early 2000s. Prosecutors say Mandell treated his brokers to fast times in London, spending $1.3 million at the nicest hotels in Europe and bringing plenty of petty cash for strip clubs and prostitutes.
An exhibit introduced at trial by prosecutors showed that Mandell charged $162,000 on credit cards at adult entertainment clubs in London and New York from May 2001 through January 2006.
Prosecutors portrayed Mandell and a co-defendant who awaits sentencing as con men, saying they capitalized on the excitement over Internet tech stocks by using their broker-dealer operation to solicit private investments in startups. Prosecutors said the defendants spent some of investor money living lavishly with private jets, expensive vacations, fancy cars and flashy watches. They said the men manipulated the value of stocks they sold to investors in part by paying brokers 400 percent commissions to promote the stocks.
The scheme came to an end when one of the brokers was caught lying to an FBI undercover officer. The broker agreed to secretly tape-record conversations with Mandell.
Assistant U.S. Attorney Katherine Goldstein told jurors in closing arguments that Mandell told his brokers to target foreign investors because they didn’t hang up the phone like Americans.
“They are not jaded like we are,” Goldstein said Mandell told the brokers. “They are easier to convince. All you have to do is say the name Wall Street.”
Mandell, who has homes in Manhattan and Boca Raton, Fla., with his wife and two young daughters, was arrested in 2009. He has said he is a recovering alcoholic, fitness maven and family man who quit the fast lifestyle of the late 1990s and early years of the new century.
He has embraced his “bad boy” image and says he overindulged in fast-lane excesses before getting sober and becoming rich.
An admitted co-conspirator who testified against Mandell at trial said that money raised from investors was spent on “strip clubs and prostitutes.”
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Wall Street "Bad Boy" Ex-CEO Sentenced in NYC
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A former investment manager known as Wall Street’s “bad boy” was sentenced Thursday to 12 years in prison.
Ross Mandell was sentenced by Judge Paul Crotty for his conviction at trial last summer on conspiracy and securities fraud charges. The government said he defrauded U.S. and European investors of $140 million and asked that he be sent away for life.
“I’m not asking you for leniency today Judge Crotty, I’m begging you. I’m pleading with you,” the former chief executive officer of Sky Capital said before the judge announced his sentence. Mandell was also ordered to forfeit $50 million. He must report to prison June 18.
“It was never my intention to cheat or steal,” Mandell said during lengthy remarks to the court. “I’ve never taken any money from anyone sir.”
Sky Capital had offices in London, New York, Florida and New Jersey. His lawyer has promised to appeal.
The trial captured the hard-partying lifestyle brokers enjoyed during the dot-com boom of the late 1990s and early 2000s. Prosecutors say Mandell treated his brokers to fast times in London, spending $1.3 million at the nicest hotels in Europe and bringing plenty of petty cash for strip clubs and prostitutes.
An exhibit introduced at trial by prosecutors showed that Mandell charged $162,000 on credit cards at adult entertainment clubs in London and New York from May 2001 through January 2006.
Prosecutors portrayed Mandell and a co-defendant who awaits sentencing as con men, saying they capitalized on the excitement over Internet tech stocks by using their broker-dealer operation to solicit private investments in startups. Prosecutors said the defendants spent some of investor money living lavishly with private jets, expensive vacations, fancy cars and flashy watches. They said the men manipulated the value of stocks they sold to investors in part by paying brokers 400 percent commissions to promote the stocks.
The scheme came to an end when one of the brokers was caught lying to an FBI undercover officer. The broker agreed to secretly tape-record conversations with Mandell.
Assistant U.S. Attorney Katherine Goldstein told jurors in closing arguments that Mandell told his brokers to target foreign investors because they didn’t hang up the phone like Americans.
“They are not jaded like we are,” Goldstein said Mandell told the brokers. “They are easier to convince. All you have to do is say the name Wall Street.”
Mandell, who has homes in Manhattan and Boca Raton, Fla., with his wife and two young daughters, was arrested in 2009. He has said he is a recovering alcoholic, fitness maven and family man who quit the fast lifestyle of the late 1990s and early years of the new century.
He has embraced his “bad boy” image and says he overindulged in fast-lane excesses before getting sober and becoming rich.
An admitted co-conspirator who testified against Mandell at trial said that money raised from investors was spent on “strip clubs and prostitutes.”
Copyright Associated Press
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