June 10, 2005
Philanthropist Charged With Fraud
A multimillionaire money manager and a major donor to higher education was arrested last month and charged with stealing client funds to help pay for philanthropic pledges he made, including to Washington & Jefferson College. The financier, Alberto W. Vilar, has made pledges to New York and Columbia Universities that were not fulfilled, spokesmen for those institutions confirmed.
Mr. Vilar, founder of Amerindo Investment Advisors Inc., is accused of stealing $5-million from an
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