Alberto W. Vilar, the investor and music lover accustomed to opulent living, front-row opera seats and the gratitude of arts impresarios, now faces a more humble prospect: prison.
A federal jury in Manhattan on Wednesday convicted him of defrauding clients of his firm, Amerindo Investment Advisors, finding him guilty on all 12 counts. The jury also convicted his former business partner, Gary A. Tanaka, on 3 of the 12 counts.
As the foreman of the jury pronounced the first verdict, the 67-year-old Mr. Vilar blinked once but remained stone-faced throughout the recitations of “guilty,” looking down at the table in front of him. Outside the courtroom, when Mr. Vilar was asked what had gone wrong, he said softly, “I don’t know.”
His lawyer, Herald Price Fahringer, promised an appeal. “We’re deeply disappointed in the jury’s verdict,” he said. “We expect to be fully vindicated on appeal.”
The verdict came after a two-month trial and three and a half days of often heated deliberations. Raised voices were heard inside the jury room at one point. A juror sniffled as she left the courtroom. One juror said there was name-calling during deliberations, Bloomberg News reported.
The two men were charged in a 12-count indictment alleging conspiracy and securities fraud, investment adviser fraud, mail fraud, wire fraud, making false statements and money laundering. Mr. Tanaka, 65, was found guilty of conspiracy, securities fraud and investment adviser fraud.
No comments:
Post a Comment