Vilar To Court: I’m Broke

Mar 1 2010 | 2:55am ET

Hedge fund fraudster Alberto Vilar used to make $455 every three hours or so. But the recently-jailed scammer says he can’t now muster that sum to appeal his conviction.

Alberto VilarAlberto VilarVilar, who was sentenced last month to nine years in prison for ripping investors in his Amerindo Investment Advisors off to the tune of $40 million, told the U.S. Second Circuit Court of Appeals that he can’t afford the $455 filing fee. He’s asking that it be waved so he can fight his fraud conviction, which came last year.

“I owe the IRS $26 million and other creditors a total of $1,840,000,” he wrote. With his $3 million British pension trust frozen and likely to be seized, he’s living on just $20,000 a year from Social Security, he said.

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