Vilar Re-indicted on Additional Felony Charges

[Ralph]

Vilar pleads not guilty to new charges
7/28/2005, 6:08 p.m. ET
The Associated Press

NEW YORK (AP) — 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.

The new charges were added in an indictment handed up by a grand jury earlier this week that included the same charges against Tanaka, 61, of London. Tanaka pleaded not guilty to all charges Thursday. No trial date has been set.

Earlier this week, Britain's Royal Opera House declared Vilar in breach of a multimillion-dollar pledge that led the company to put his name on its flagship building. It has given him 60 days to resume payments.

Amerindo Investment Advisors Inc., based in San Francisco, describes itself as a specialist in emerging technology growth stocks.