Amerindo Cofounders Vilar and Tanaka Win Release on Bail
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Alberto Vilar and Gary Tanaka, the technology investors convicted of stealing from clients in 2008, were ordered released from prison on bail while a federal court considers their appeal.
The U.S. Court of Appeals in New York today ordered a trial judge to set “appropriate conditions” for Vilar and Tanaka, the cofounders of Amerindo Investment Advisors Inc., to be released on bail. Vilar, 71, known for his philanthropy and love of opera, is serving a nine-year sentence in federal prison in New Jersey. Tanaka, 69, is serving five years in California.