District Attorney Cyrus R. Vance, Jr., today announced the sentencing of STEVEN MANDALA to 2 to 6 years in prison. MANDALA pleaded guilty to Grand Larceny in the Second Degree and Identity Theft in the First Degree on May 19, 2010, in New York State Supreme Court. In addition to having already forfeited the Ferrari purchased with the money he stole, MANDALA must repay an additional $360,000 in restitution. According to court documents, MANDALA was employed as a stockbroker with Maxim Group, earning approximately $100,000 a year, when he applied for a job with Merrill Lynch. MANDALA falsely told Merrill Lynch that he was a partner with Maxim Group, that his clients entrusted him with $300 million of assets to manage, and that his work produced $1.5 million in revenue, for which he received compensation totaling $765,000. MANDALA produced false pay stubs, tax returns, and W-2 forms in support of his fraudulent claim.