Alberto Vilar

On February 5, 2010, Vilar was sentenced to nine years in prison, while Tanaka was sentenced to five years. They were both featured in the fifth season of the television series American Greed. In October 2012, after having served more than 2 1/2 years at the Fort Dix, New Jersey, Federal Correctional Institution, the appeals court, over the objections of the prosecution, ordered his immediate release pending the appeal. Vilar and Tanaka were returned to jail in November 2013. In April 2014, Vilar was returned to prison, and sentenced to an additional year for preventing the victims' families from recovering their lost funds.

Vilar and Tanaka's trial began in September 2008, with Herald Price Fahringer as Vilar's defence attorney and Glenn Colton representing Tanaka. The trial concluded on November 19, 2008 with the conviction of Vilar on all 12 counts with which he had been charged and the conviction of Tanaka on 3 counts.

The charges did not allege wrongdoing at Amerindo's mutual funds, and when the firm was wound up there were no missing funds. But Morningstar, a fund analysis company, advised investors to withdraw their money in any case, because the funds had been performing very poorly. In fact, as with many other funds investing in internet companies, investors had already been pulling out for some time, reducing assets and causing expense ratios to increase. Extensive seizures of records and computers in the course of the investigation compelled Amerindo's board to merge the fund with Munder Capital Management's fund, Munder NetNet, later renamed Munder Internet. The seizures were ruled excessive by a federal judge in early 2007.

As noted in James Stewart's 2006 New Yorker profile of Vilar, at some point in 2002, Vilar was hospitalized for a series of operations on his back, and he claims to have nearly died as the result of complications: "they were ready to give me the last rites". There was speculation that he might have missed some planned donations as the result of his illness.

Vilar and Tanaka were arrested on May 26, 2005, on charges of securities fraud. The government claimed that the two appropriated as much as $5 million of an Amerindo client Lily Cates' (heiress and mother of actress Phoebe Cates) money for personal use. It was alleged that Vilar used the money to pay for some home repairs and to make good on previously-promised charitable contributions. It was also alleged that Tanaka used money to purchase thoroughbred race horses. The SEC also filed a civil suit. .

In July 2005 the Royal Opera House announced that, following Vilar's failure to maintain the agreed payment schedule, his name would be removed from the building. Later his name was removed from the young artists program when a new donor stepped forward.

As a result of his philanthropy, in 2002 the Americans for the Arts organization gave him their National Arts Award, for "Corporate Citizenship in the Arts".

A lasting effect, however, clearly came from the severe decline in his personal fortune due to the crash in technology stocks around 2000. It is documented that Vilar still continued to make pledges even as his personal and his company's fortunes continued to plunge. Among the pledges were $5 million for money for voice loss research after meeting Julie Andrews and $30 million to a Berlin opera company: "Asking Alberto for money was like offering an alcoholic a drink". However, many of his pledges were never paid.

In a 2000 interview with Philipp Blom, Vilar had estimated his donations to opera houses and other performing arts centers in some 150 million dollars granted over the previous 10 years

Originally from West Orange, New Jersey, Vilar earned an economics degree from Washington & Jefferson College, a liberal arts college in Washington, Pennsylvania. He then earned a master's degree in economics at Iona College in New Rochelle, New York. In 1979, along with Gary Tanaka, he founded Amerindo Investment Advisors, an investment advisory firm based in San Francisco and New York, with offices in London. In 1981, Vilar made his first $1 million. Amerindo's main investment activities were in technology funds, which the stock market crash of 2000 severely affected. The value of the Amerindo funds declined sharply, and Vilar began to default on his pledges to arts institutions.

Alberto Vilar, a.k.a. Albert Vilar (October 4, 1940 – September 4, 2021) was an American investment manager who became particularly known as a patron of opera companies, performing arts organizations, and educational institutions. Following the collapse of his investment firm, Amerindo Investment Advisors, he was tried and convicted in November 2008 on charges of money laundering, investment advisor fraud, securities fraud, mail and wire fraud. He was sentenced in February 2010 to nine years in prison and released in 2018.