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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 that fraud leads to prison and damages confidence in the economy.
U.S. District Judge Richard J. Sullivan also fined Vilar $25,000 and ordered him to pay $21.9 million in restitution and to forfeit $22 million.
Vilar donated $7 million to rebuild a Beaver Creek theater, which was later named the Vilar Performing Arts Center. He also promised $25 million to National Jewish Health but never paid.
