In a new blow to the embattled Amerindo founders, the Securities and Exchange Commission has widened the scope of its allegations against Alberto Vilar and Gary Tanaka.

In its earlier complaint, the regulator alleged that Vilar, Tanaka and Amerindo had misappropriated an individual client’s funds.

Now, it has accused Vilar, Tanaka and other affiliated entities of duping more investors in a 53-page amended complaint filed in the Southern District of New York Thursday.

"The defendants, among other things, engaged in a scheme to defraud numerous investors, including an individual client, L.C., investors in Guaranteed Fixed Rate Deposit Accounts and investors in two offshore hedge funds, ATGF and ATGF II," the complaint read. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE