NEW YORK: The dramatic rise and fall of opera-loving philanthropist Alberto Vilar culminated Friday in a nine-year prison sentence from a judge who credited his giving spirit but said money managers must learn fraud leads to prison and damages confidence in the economy.
U.S. District Judge Richard J. Sullivan also fined Vilar US$25,000 and ordered him to pay US$21.9 million in restitution and to forfeit more than US$22 million.
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