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SEC Wins Big As Wyly Brothers Found Liable In $550M Trial

By Max Stendahl ( May 12, 2014, 1:04 PM EDT) -- A New York federal jury on Monday found former Michael's Stores Inc. chairman Sam Wyly and the estate of his late brother Charles Wyly Jr. liable for fraud in a $550 million U. S. Securities and Exchange Commission case, handing the government a clear victory after a number of high-profile losses. . . .

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