Wealthy Dallas brothers become SEC fraud target

Source: AP

AUSTIN, Texas – Brothers Charles and Sam Wyly, born a year apart during the Great Depression, almost always have been joined at the hip.

They were kids when the collapsed economy forced the surrender of the family cotton farm in Lake Providence, La. Later, they starred on the high school football team, studied at Louisiana Tech University in the 1950s, and eventually set sales records at IBM.

They rose to the elite class of billionaires, A-list members of Dallas society and regular donors to philanthropic projects and primarily conservative Republican candidates and causes.

Now, the brothers are together again — named in a federal complaint that accuses them of using offshore havens to hide more than a half-billion dollars in profits over 13 years of insider stock trading.

Read more: http://news.yahoo.com/s/ap/20100731/ap_on_bi_ge/us_wyly_brothers_insider_trading

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Cutting Edge Uncensored News!!! http://activistnews.blogspot.com/

As usual.

have been Republican fair for a long time. Offshore accounts were Reagan's wet dream.

They don't do that kind of stuff. That's what our sons and daughters are for.

"And the brothers helped bankroll the famous Swift Boat campaign that helped re-elect the younger Bush in 2004 by tarring Democratic
opponent, Sen. John Kerry."

nice guys

She was a big Democratic donor and she got jail time. I'd like to see them in jail for a very long time.

http://www.nytimes.com/2010/07/31/business/31wyly.html

WASHINGTON — Sam and Charles Wyly have long cultivated an image as active philanthropists, funneling millions of dollars to arts groups, colleges, literacy programs and animal shelters. But government investigators have suspected for years that the billionaires from Dallas had a less community-minded goal: avoiding taxes.