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charles wyly
Billionaire Brothers Charged: 6 Standout Facts About Samuel and Charles Wyly
By Steven Hoffer - AOL News(July 30) -- A six-year investigation culminated on Thursday when the Securities and Exchange Commission charged Dallas billionaire brothers Samuel and Charles Wyly with securities fraud violations totaling $550 million in hidden gains. According to The New York Times, the Wylys have stated, through a lawyer, that the allegations are "without merit." Born and raised in Louisiana, Sam, 75, and Charles, 76, built their fortune through a variety of entrepreneurial ventures, including early investments in software products, the Bonanza restaurant chain, Green Mountain Energy, Dartran Inc., and ...
Texas Billionaires, Major GOP Donors, Charged With 'Insider' Stock Fraud
By Tom Diemer - Politics DailyThe Securities and Exchange Commission has charged Dallas billionaires Sam and Charles Wyly -- generous donors to conservative causes -- with using secret overseas accounts to reap more than $550 million in profit through illegal stock trades. The government said the brothers set up a sham network of companies and trusts in the Cayman Islands and on the Isle of Man, off the British coast, to trade more than $750 million of stock in four public companies where they served on corporate boards. In so doing, they failed to make the public disclosures required of "corporate insiders," the SEC ...
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