Samuel Evans Wyly

  1. July 31, 2016

    Wyly Trustee Says Vinson Can't Get Paid For Exemption Fight

    The trustee for business tycoon Sam Wyly on Friday urged a Texas bankruptcy judge to deny Vinson & Elkins' requests for legal fees from a failed bid to shield $249 million in annuities from creditors since the work did not serve the estate's interests.

  2. July 13, 2016

    SEC Can Try To Force Wylys To Bring Offshore Money Home

    The U.S. Securities and Exchange Commission will be able to seek a court order forcing the repatriation of about $300 million from offshore accounts to satisfy a fraud judgment against Sam and Charles Wyly unless the onetime billionaire Wyly families voluntarily bring that money to the U.S., a Texas bankruptcy judge said Wednesday.

  3. July 12, 2016

    Sam Wyly Plans Appeal Of $1.1B Tax Fraud Judgment

    Business tycoon Sam Wyly and the wife of his late brother on Monday said they'll soon be appealing respective $1.1 billion and $37 million tax judgments, while the Wylys continue to fight efforts by the SEC to repatriate offshore assets amid ongoing Chapter 11 proceedings.

  4. July 01, 2016

    Wyly Can't Shield $250M In Offshore Payments From SEC

    Bankrupt business tycoon Sam Wyly cannot shield $249 million in ill-gotten annuities from the U.S. Securities and Exchange Commission and other creditors, a Texas bankruptcy court has ruled, finding the payments resulted from securities fraud that cannot be exempted under Texas law.

  5. June 29, 2016

    Wyly Says SEC Seeks 'Leg Up' On His $250M In Annuities

    Billionaire tycoon Sam Wyly slammed the U.S. Securities and Exchange Commission's bid to go after nearly $250 million of his annuities, telling a Texas judge that the agency can't circumvent the bankruptcy process to satisfy part of a $299 million judgment against him and his late brother Charles.

  6. June 27, 2016

    Sam Wyly Tax Bill Totals $1.1B In Fraud Case

    A Texas bankruptcy judge ruled Monday that business tycoon Sam Wyly owes more than $1.1 billion in back taxes, interest and penalties to the Internal Revenue Service over what the agency has called one of the largest offshore tax frauds in U.S. history.

  7. June 08, 2016

    Wyly Judge Won't Wait For 2nd Circ.'s Word In $299M Appeal

    A Texas bankruptcy judge on Wednesday said she's "disinclined" to delay Chapter 11 proceedings for business tycoon Sam Wyly and his sister-in-law while they appeal a $299 million securities fraud judgment, amid efforts by federal regulators to access Wyly assets held offshore.

  8. June 06, 2016

    SEC Slams Wyly's Attempt To Shield Assets From Creditors

    The U.S. Securities and Exchange Commission doubled down Friday on its attempt to prevent billionaire Sam Wyly from shielding nearly $250 million in annuities from his bankruptcy creditors, telling a Texas judge the businessman is attempting to rehash issues already decided at an earlier trial at which he was found liable for tax fraud.

  9. May 25, 2016

    Wyly Estate Suit Judgment Not Affected By Stay, SEC Says

    The U.S. Securities and Exchange Commission asked a federal bankruptcy judge in Texas on Tuesday to clarify that an automatic stay in the case involving billionaire and fraudster Samuel Wyly doesn't keep the SEC from collecting the funds to satisfy its judgment.

  10. May 16, 2016

    SEC Says Wyly Estate Must Include $249M Annuities In Ch. 11

    Billionaire and securities and tax fraudster Sam Wyly should not be allowed to protect nearly $250 million in annuities and his $12 million home from creditors in bankruptcy because Texas and federal laws do not permit such exemptions, the U.S. Securities and Exchange Commission told a Texas federal court Friday.