Friday, December 19, 2008

Update: Convicted Philanthropist Fraudster To Be Jailed Until Sentencing

Alberto W. Vilar, 68, who was recently convicted on conspiracy fraud charges was ordered today by New York Judge Richard J. Sullivan, detained in jail until his sentencing on March 20, 2009. According to reports, the good judge feels Vilar is too much of a flight risk to be allowed out on bail. He was convicted of defrauding investors with respect to their investments in Vilar's firm, Amerindo Investment Advisors Inc. Sentencing guidelines would require at least 27 years imprisonment. Read FraudTalk's original post on this story here.

Read the story in the New York Times here and here.

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