Vilar ordered to jail in fraud case
Alberto Vilar, convicted of fraud and conspiracy last month for stealing as much as $20 million from clients of his San Francisco-based investment firm, has been ordered to remain in jail while he awaits sentencing.
Vilar, 68, hailed until a few years ago as an international arts patron, was convicted Nov. 19 and had been free pending his March 20 sentencing date. But prosecutors argued that he was a flight risk, and on Thursday a New York judge agreed.
Vilar’s attorney said he would appeal the decision.
Vilar, who could be facing up to 34 years in prison, made numerous multimillion-dollar pledges to opera companies around the world, but failed to deliver on many of them, including a $12-million gift to L.A. Opera.
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