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Securities and Exchange Commission v. Wyly et al

  1. November 04, 2014

    Wyly Widow's $28M Home Can't Cover Debts, Filing Says

    Texas tycoon Charles Wyly's bankrupt widow told a court she doesn't have enough to cover an eight-figure jury verdict in favor of the U.S. Securities and Exchange Commission over her husband and brother-in-law's offshore financial activities, spelling more trouble for the regulator's efforts to collect, even with the aid of an all-encompassing asset freeze granted on Monday.

  2. November 03, 2014

    SEC Granted Broad Freeze On Wyly Family Assets

    A New York federal judge issued a broad asset freeze Monday that covers extended family of Texas tycoon Sam Wyly and his late brother Charles, notching a win for the U.S. Securities and Exchange Commission in its bid to protect a potential $198 million offshore-trading penalty.

  3. October 29, 2014

    Wyly Bankruptcy Atty Says Case Proceeding 'By The Book'

    Counsel representing Sam Wyly in his bankruptcy told a New York federal judge in a letter made public Wednesday that the Texas tycoon hasn't been liquidating assets unbeknownst to them, firing back against the U.S. Securities and Exchange Commission's bid for an extended asset freeze that would apply to Wyly's family members and third parties.

  4. October 28, 2014

    SEC Says Freeze On Wyly Assets Should Be Broad

    The U.S. Securities and Exchange Commission told a New York federal judge Tuesday that a freeze on the assets of Texas tycoon Sam Wyly and his late brother, Charles Wyly, should be broad enough to cover extended family and third parties, as the agency seeks to protect a potential $198 million offshore-trading penalty and address Wyly's bankruptcy filing.

  5. October 27, 2014

    Wyly Family Says SEC Asset Freeze To Harm 'Innocent' Kids

    The U.S. Securities and Exchange Commission could end up violating the constitutional rights of the extended family of Texas tycoon Sam Wyly and his late brother Charles Wyly if the agency's proposed order to freeze their assets goes through, attorneys for the family members said on Monday.

  6. October 23, 2014

    SEC Wins Asset Freeze Against Wyly Despite Bankruptcy

    The U.S. Securities and Exchange Commission on Thursday secured a freeze on Texas tycoon Sam Wyly's assets a day after he filed for bankruptcy in Texas in the face of a looming offshore-trading penalty the SEC has pegged at $198 million.

  7. October 22, 2014

    Wyly Says Ch. 11 Should Block SEC Asset Freeze

    Lawyers for billionaire investor Sam Wyly on Wednesday told a Texas bankruptcy judge his voluntary Chapter 11 petition protects his estate from the U.S. Securities and Exchange Commission's attempt to secure an asset freeze in New York federal court.

  8. October 20, 2014

    Sam Wyly Seeks Ch. 11 To Deflect Looming $198M Fine

    Texas tycoon Sam Wyly sought Chapter 11 protection Sunday, saying he can't afford a potential $198 million government penalty for allegedly using secretive offshore trusts to trade stocks while evading taxes.

  9. October 10, 2014

    SEC Calls $187M Wyly Fraud Judgment 'Conservative'

    A New York federal court's recent $187 million tax fraud ruling against Texas tycoon Sam Wyly and the estate of his late brother is "conservative" and should not be reviewed, a U.S. Securities and Exchange Commission lawyer said in a letter made public on Friday.

  10. October 09, 2014

    SEC Wants Wyly Assets Frozen To Safeguard $187M Judgment

    The U.S. Securities and Exchange Commission said Wednesday that it will move to freeze the assets of Texas tycoon Sam Wyly and the estate of his late brother Charles Wyly Jr., to ensure they pay a judgment of at least $187 million for using offshore trusts to secretly trade stocks while evading taxes.

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