VAIL, CO (CelebrityAccess MediaWire) – The board of directors at the Vail Valley Foundation, which operates the Vilar Center For The Arts At Beaver Creek, Colorado, is considering removing the prominently displayed name of the tech investor, celebrated performing arts philanthropist and now criminal suspect Alberto Vilar from the outdoor amphitheater.
Vilar was arrested on May 26th in New Jersey and charged with using $5 million of an investor’s money as a “personal piggy bank.” Vilar posted a $10 million bond, apparently raised by friends, and was released from federal prison. He has pleaded not guilty to the charge.
Displayed next to that of former President Gerald R. Ford, his name graces the signs for the Vilar Pavilion and the Vilar Center for the Performing Arts. His current inability to honor some of his philanthropic commitments could change at least one of them.
Vail Valley Foundation president Harry Frampton told the Vail Daily that the organization’s board may remove his name from the amphitheater due to the fact that he may not be able to pay the remaining $1.5 million of a $3.5 million pledge.
“It might be appropriate to modify it,” Frampton told the paper. “Given that it appears we might not get the $1.5 million.” –by CelebrityAccess Staff Writers