Vilar Made Bail With $500,000 From Valery Gergiev

Classic Arts News   Vilar Made Bail With $500,000 From Valery Gergiev
Alberto Vilar, the philanthropist currently charged with defrauding investors, made bail earlier this week partly thanks to $500,000 put up by conductor Valery Gergiev, the New York Times reports.

Vilar's bail was originally set at $10 million but was later reduced to a $4 million bond secured by Gergiev's and other donations. The bail is also backed by the Southampton Village house of one of Vilar's friends and the projected sale of some art from Vilar's collection.

Vilar must come up with the $220,000 from art sales by July 20.

R. Douglas Sheldon, Gergiev's manager said that the money was put up in a gesture of friendship. "He believes in friendship on a different level than most people understand today," he told the Times.

There was no comment from Gergiev, who wished the matter to remain confidential.

In 2000, Vilar pledged $14 million to the Kirov Opera, where Gergiev is artistic director, but the money never actually appeared. It is one of many financial pledges that Vilar failed to keep.

The Times notes, however, that Vilar helped the Kirov with a financially struggling production of War and Peace with a gift of $1 million.

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