Wednesday, 28 January 2015
Last updated 12 hours ago
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.
Vilar, 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…