Amerindo Co-Founders Get More Jail Time For $20M Swindle

Law360, New York (April 24, 2014, 2:50 PM ET) -- A New York federal judge on Thursday increased the sentences of two former Amerindo Investment Advisors Inc. money managers who ran an alleged $20 million fraud scheme, saying they had continued to act “vindictively” toward victims after being sent to prison.

U.S. District Judge Richard J. Sullivan ruled that Amerindo co-founders Alberto Vilar and Gary Tanaka, who initially received sentences of nine and five years, respectively, deserved one additional year in prison each because they tried to obstruct efforts to repay victims. The resentencing hearing came...
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