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    Posted February 3, 2014 by

    Alberto Vilar out on bail

    Former philanthropist and money manager Alberto W. Vilar was arrested in 2005 on charges of financial fraud. In 2007 after a seven week trial, a Manhattan jury found him guilty on all 12 counts. He was sentenced to nine years in prison. In October 2012, fVilar was released on bail pending appeal. The photo (by wpfaeffle) shows Vilar as he leaves the U.S. Federal District Court in downtown Manhattan. In 2012, an appeals court confirmed the verdict and in October 2012 Vilar was remanded back to prison.
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