Amerindo's Alberto Vilar
fell just shy of the $10 million bail that a federal court judge set for his release, reports the Wall Street Journal
Vilar only needed to round up $4 million in property and assets and to find four friends to co-sign the bond, but according to the Journal, the former co-founder of Amerindo came up with a friend's $1.8 million Southhampton property and art worth $1 to $2 million.
Susan Necheles, Vilar's attorney and famed white collar criminal defense lawyer, said she was disappointed that Vilar's wealthy friends left him high and dry. "He's been a generous person … he's put dozens of kids through school. It's a sad thing," she told the Journal reporter.
Amerindo co-owner Gary Tanaka, meanwhile, fared a little better. Tanaka was able to meet his $10 million bail using family assets put forward by his mother, sister and son. Tanaka will be confined to his son's home, allowed to leave only to appear in court or to see his doctor.
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