AP Wire | 06/01/2005 | SEC files lawsuit against New York philanthropist and his company

AP Wire 06/01/2005 SEC files lawsuit against New York philanthropist and his company: "Posted on Wed, Jun. 01, 2005
SEC files lawsuit against New York philanthropist and his company

LARRY NEUMEISTER

Associated Press


NEW YORK - A receiver should be appointed to run the investment company of a wealthy philanthropist charged with using an investor's money to make charitable donations and pay personal expenses, a government regulator said Wednesday.
In a lawsuit filed in U.S. District Court in Manhattan, the Securities and Exchange Commission asked that a receiver be appointed to oversee Amerindo Investment Advisors Inc., a San Francisco-based company that describes itself as a specialist in emerging technology growth stocks.
The SEC said clients have contacted the company to inquire about the safety of their investments in the week after its two principles, Alberto William Vilar "