More Charges For Vilar

A federal grand jury June 9th indicted legendary arts patron Alberto Vilar on additional charges of fraud and money laundering stemming from his arrest last month.

Added to the complaint filed May 27th are charges of investment advisor fraud, securities fraud, mail fraud, wire fraud and four counts of money laundering.

Vilar, head of Amerindo Investment Advisors Inc., was arrested and charged with bilking a client out of about $5 million and using the cash to cover his own expenses and make charitable donations.

The Cuban immigrant remains in jail despite a report that he worked out an agreement to be released on a partially secured $10 million bond.

Meanwhile, officials are still considering whether Vilar’s partner, Gary Tanaka, will be charged with more than the three counts of fraud filed against him last month.

Vilar allegedly made charitable contributions of more than $200 million to various organizations around the world, including Colorado’s Vilar Center For The Arts At Beaver Creek and Gerald R. Ford Amphitheatre, according to the complaint.

The Vail Valley Foundation, which oversees the two facilities, is still owed $1.5 million of the $3.5 million Vilar pledged five years ago.