Vail Valley philanthropist Vilar faces sentencing
NEW YORK – Opera-loving philanthropist Alberto Vilar is facing the prospect of a lengthy jail sentence.
The 69-year-old Vilar is scheduled to be sentenced in Manhattan on Friday by Judge Richard Sullivan. He has been imprisoned since he was convicted in November 2008 of conspiracy fraud.
The investment adviser could face more than 20 years in prison. Vilar has written a letter to the judge accepting blame and asking to be freed because he is not in good health.
Vilar was once a donor to cultural institutions worldwide, including opera houses. Forbes magazine estimated his worth at $950 million before technology stocks collapsed in 2000.
He was convicted of bilking $40 million from investors in his San Francisco-based company, Amerindo Investment Advisors Inc.
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