Money Managers Sentenced To 9, 5 Years In Jail

Law360, New York (February 5, 2010, 6:45 PM EST) -- Alberto Vilar and Gary Tanaka, two former money managers who were also well-noted philanthropists, have been sentenced to nine and five years in prison, respectively, for allegedly running a multimillion-dollar scheme to defraud investors.

Judge Richard J. Sullivan of the U.S. District Court for the Southern District of New York handed down the sentences Friday. In addition to jail time, Vilar, 69, received three years of supervised release and was ordered to pay a $25,000 fine, while Tanaka, 66, received three years of supervised release and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.