Category: Wyly Brothers

Wyly Family Fights SEC Asset Freeze in $550 Million Fraud

The children of craft store kingpins Charles and Sam Wyly say they shouldn’t suffer for their fathers’ transgressions. The U.S. Securities & Exchange Commission says they shouldn’t be allowed to spend the proceeds of the brothers’ fraud. The Wyly brothers used gains from secret, illegal, offshore transactions “as their own… – Continue reading

Billionaire Brothers Avoided Taxes by Hiding Stock

Back in the eighties and nineties, the Wyly brothers ran, and owned huge stakes in, a weird bunch of public companies, including some craft stores, some software companies, and a reinsurer. These companies were good and made the Wyly brothers a lot of money. An odd biological fact is that… – Continue reading