Wyly Brothers Found Guilty of Fraud

A jury decided today that Samuel Wyly and the estate of Charles Wyly are liable for fraud. The brother’s had off shore trusts that concealed company assets and created tax benefits for them. The offshore trusts brought the brothers $550 million in profits.

See Nate Raymond, Texas’ Wyly Brothers Committed Fraud, U.S. Jury Finds, Rueters, May 12, 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.