Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Wednesday, June 12, 2024 | Back issues
Courthouse News Service Courthouse News Service

Long Terms for Fraud Out of Tech Bubble

MANHATTAN (CN) - The former owners of Amerindo Investment Advisors were sentenced Friday to 12 and 5 years in federal prison for fraud. Alberto Vilar got 12 years, Gary Tanaka 5. They "guaranteed" investors fixed rates of return and then blew millions when the tech bubble burst in 2000.

Vilar, 69, of New York was also fined $25,000. Tanaka, 66, of London, England, was fined $20,000. They were convicted after a 9-week jury trial.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.