Vilar Pleads Not Guilty

Alberto Vilar has pleased not guilty. “He said he was not guilty of investment adviser fraud, securities fraud, mail fraud, wire fraud and money laundering charges in an indictment returned last week. Vilar has been unable to post $4 million in assets to secure a $10 million bail set after his May 27 arrest. Prosecutors have said Vilar is a threat to flee and suggested he is hiding assets. If convicted, he could face more than 10 years in prison.”