Thursday, November 20, 2008

Alberto Vilar: A villain of the last boom convicted

"What brought Vilar down ultimately, was the dotcom bust. He rode big bets on, eBay, and Yahoo in the '90s to make billions of dollars, and his net worth peaked at $950 million. After the Nasdaq crashed in 2000, though, investors say Vilar promised to put their money in safe interest-bearing accounts — and instead, kept investing it in hopeless tech stocks. All the while, he kept giving away money to charities that he didn't have."

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