Convicted Investment Advisers Try To Block SEC Suit

Law360, New York (March 8, 2012, 7:08 PM EST) -- A convicted money manager and his former colleague sought Thursday to dismiss a long-running civil suit in New York accusing them of diverting millions of dollars of investors' money into their own business and personal ventures.

Gary Tanaka and Alberto Vilar, co-founders of Amerindo Investment Advisors Inc., argued in court documents filed in New York federal court that the U.S. Securities and Exchange Commission is violating their due process and trying to impose excessive punishment by refusing to release part of the $54 million seized years...
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