Securities and Exchange Commission v. Wyly et al

  1. December 06, 2017

    SEC Closes The Book On Sam Wyly Case With $198M Paid

    A Texas federal judge closed out the U.S. Securities and Exchange Commission's long battle with investor Sam Wyly and his family on Tuesday, releasing them from an asset freeze in the wake of the full payment of a $198 million settlement.

  2. November 01, 2016

    Wyly Estate Slams SEC In Fight To Collect $101M Judgment

    The executor for the bankrupt estate of the late Texas businessman Charles J. Wyly responded Tuesday to the government's efforts to recover over $101 million from the estate's offshore accounts and hold him in contempt for failure to pay, telling a New York federal judge not to decide premature issues based on bogus allegations.

  3. October 04, 2016

    SEC Says Wyly Estate Must Hand Over $101M Final Judgment

    The U.S. Securities and Exchange Commission on Tuesday told a New York federal court that it should take action to compel the estate of former Texas oil tycoon Charles Wyly to hand over to the government about $101 million from offshore accounts to satisfy a judgment that's more than a year old.

  4. September 30, 2016

    Sam Wyly, SEC Strike $198M Deal Over Fraud Claims

    Former Texas tycoon Sam Wyly has agreed to pay $198 million to settle securities fraud claims by the U.S. Securities and Exchange Commission over an alleged offshore trading scheme he ran with his late brother, according to a court filing Friday in New York federal court.

  5. September 07, 2016

    SEC Urges Contempt For Wyly Executor Over $101M Penalty

    The U.S. Securities and Exchange Commission on Wednesday told a New York federal judge that the estate of the late Texas businessman Charles J. Wyly has yet to pay up on a $101 million judgment from February 2015, and the agency wants to hold the executor in contempt. 

  6. August 28, 2015

    Wyly Wants SEC's $300M Win Nixed Over Tax Ruling

    Former Michaels Stores Inc. chair Sam Wyly and late brother Charles Wyly Jr.'s estate asked a New York federal judge on Thursday to nix a $299.3 million victory won by the U.S. Securities and Exchange Commission, saying a bankruptcy decision on tax liability puts the award in doubt. 

  7. July 07, 2015

    Wyly Bros. Lose Bid For New Trial After $300M SEC Judgment

    A New York federal judge has rejected bankrupt Texas tycoon Sam Wyly's request to undo the jury verdict that led to a $299 million judgment after the U.S. Securities and Exchange Commission charged Wyly and his late brother with duplicitous offshore trading.

  8. May 04, 2015

    Wyly Brothers Continue To Fight $300M SEC Judgment

    Former Michaels Stores Inc. part owner Sam Wyly and the estate of his deceased brother on Monday redoubled efforts to stay a $300 million judgment against them for illegal trading, describing as bizarre the SEC's argument that the pursuit of the stay would stretch the automatic bankruptcy stay beyond its parameters.

  9. March 13, 2015

    Wyly Brothers Cry Foul Over $300M SEC Judgment

    Former Michael's Stores Inc. part owner Sam Wyly and the estate of his deceased brother have requested a stay and a new trial on the $300 million judgment against them, saying Thursday that the SEC didn't prove that the two had control over investment decisions but merely showed that they had some influence. 

  10. February 27, 2015

    SEC's $300M Wyly Judgment Is Only Half The Battle

    The first stage of the U.S. Securities and Exchange Commission's hard-fought battle against a pair of Texas tycoons came to a close Thursday when a New York federal judge imposed a nearly $300 million judgment against Sam Wyly and the estate of his late brother Charles Wyly, but a new front now opens as the agency looks to collect on the tab amid likely appeals and a bankruptcy proceeding.