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Rating:Bear Stearns Slapped with Suit Over Amerindo Transfer Not Rated 3.0 Email Routing List Email & Route  Print Print
Friday, May 18, 2007

Bear Stearns Slapped with Suit Over Amerindo Transfer

by: Erin Kello

Bear Stearns has been dragged into the Amerindo mess. Lily Cates, mother of actress Phoebe Cates, sued Bear claiming the brokerage improperly transferred her assets into an account managed by Amerindo Investment Advisors, Reuters reports. Cates accused Bear of assisting Amerindo in misappropriating and converting about $10 million of her assets. She claims she did not consent to the transfers. Cates also names Alberto Vilar, and Gary Tanaka, the formers heads of Amerindo in the suit. Both are currently awaiting trial in New York.  

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