Philanthropist Pleads Not Guilty in Fraud

[Judi Lynn]

Philanthropist Pleads Not Guilty in Fraud

Philanthropist Vilar Pleads Not Guilty to New Fraud Charges in an Alleged $5 Million Scam

NEW YORK Jul 28, 2005 — Philanthropist Alberto Vilar pleaded not guilty Thursday to new charges of conspiracy and wire fraud in an alleged $5 million scam against an investor.

Vilar and a business partner, Gary Alan Tanaka, are accused of cheating an investor in their firm, Amerindo Investment Advisors, and spending the money on personal expenses and charitable contributions.

The government has said Vilar had a personal net worth of about $950 million in December and has contributed more than $200 million to entities including opera and medical organizations around the world.

Vilar, 64, of New York, had already pleaded not guilty to eight criminal charges, including investment adviser fraud, money laundering and securities fraud.
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http://abcnews.go.com/US/wireStory?id=987328

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High Note On Wall Street
by Joyce Valdez


Alberto Vilar is a maestro of high-stakes finance.

Vilar:" I'decided I didn't want to be a banker and, trough extraordinary luck, went to Wall Street"

ACT I: Young Alberto, the son of a successful sugar merchant, enjoys a comfortable childhood in pre-revolutionary Cuba. The major influence in his life is an adoring grandmother who exposes the boy to opera at an early age. Other children find his musical passion curious, but that does not dampen his youthful enthusiasm for Wagner, Verdi, and Puccinni.

ACT II: Alberto leaves Cuba to study economics in America, fully expecting to join the family business. His world -and that of his entire family-collapses at the hands of a cruel dictator. By the time he finishes university, Alberto is nearly destitute.

ACT III: Alberto overcomes personal challenges to become a banker, but fate leads him to Wall Street. Lean years follow, but he ultimately finds fame and fortune in that fabled place. Some say he has the Midas touch. Unlike the mythical king whose avarice led to misery, Alberto shares his wealth with the world. Oh, yeah, he also buys and sells guys like Midas every day.

Love and loss. Power and wealth. Adversity and redemption. Alberto Vilar's life seems like a treatment for a modern-day opera. There is no question he is a maestro of high-stakes finance: The 59-year-old billionaire is founder and president of a company that manages about $7.5 billion in emerging technology growth stocks.
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http://www.hispanicmagazine.com/2000/nov/CoverStory/



Bravo, Alberto! Bravo!