Vilar: Prosecutors seek immediate jailing for one-time Beaver Creek resident
NEW YORK ” Federal prosecutors say philanthropist Alberto Vilar might flee because he could face the rest of his life in prison. Vilar was once a major philanthropic force in Beaver Creek, Colorado.
Prosecutors submitted papers in federal court Thursday to get the investment adviser jailed before his March 20 sentencing. The opera-loving Vilar was convicted of conspiracy fraud charges last month.
They said the 68-year-old has the money and motive to flee because sentencing guidelines call for at least 27 years in prison.
They said he can’t be trusted not to steal from friends who helped post his $10 million bail.
Forbes magazine once said Vilar was worth $950 million, but that was before the collapse of technology stocks in 2000.
Vilar’s lawyer did not immediately return a call seeking comment.