Samuel Evans Wyly

  1. March 29, 2017

    Sam Wyly Allowed To Pull Appeal Of $300M SEC Fraud Case

    A Texas bankruptcy judge on Wednesday allowed business tycoon Sam Wyly to withdraw his Second Circuit appeal of a court ruling ordering him and his late brother's estate to pay nearly $300 million for engaging in securities fraud.

  2. March 08, 2017

    Wyly Children Seek To Shield Trust From $1B IRS Claim

    Two of Texas tycoon Sam Wyly's children on Tuesday sought to intervene in his bankruptcy proceeding, arguing in an adversary suit that the Internal Revenue Service is wrongly trying to claim money held in a trust they oversee.

  3. November 08, 2016

    Wyly's $198M SEC Settlement Wins OK From Ch. 11 Judge

    A Texas bankruptcy judge on Monday approved the terms of a $198 million settlement between the U.S. Securities and Exchange Commission and business tycoon Sam Wyly that bars the SEC from moving forward with attempts to repatriate assets held in offshore trusts.

  4. November 07, 2016

    SEC, Wyly Family Reach Deal On $101M Fraud Judgment

    The U.S. Securities and Exchange Commission and the widow of deceased business tycoon Charles Wyly have reached an accord to satisfy a $101 million securities fraud judgment against Charles Wyly’s estate, asking a Texas bankruptcy court on Friday to amend a previous order allowing for the repatriation of foreign assets.

  5. October 31, 2016

    Wyly Unsecured Creditors Slam $198M Deal With SEC

    Unsecured creditors of the Chapter 11 estate of Texas business tycoon Sam Wyly urged a bankruptcy court on Friday to deny the debtor's request to settle the federal government's securities fraud judgment for $198 million, saying the deal would unfairly deprioritize their claims.

  6. October 28, 2016

    Wyly Estate Chapter 11 Plan Denied Confirmation

    The widow of deceased business tycoon Charles Wyly was denied her third version of a Chapter 11 reorganization plan after the IRS and the U.S. Securities and Exchange Commission argued there was no guarantee that the plan would be funded, according to a court order filed Thursday.

  7. September 27, 2016

    SEC, IRS Tell Court To Nix Latest Wyly Estate Ch. 11 Plan

    The U.S. Securities and Exchange Commission and the Internal Revenue Service both urged a federal judge in Texas on Monday to reject the third version of a Chapter 11 reorganization plan for the estate of deceased business tycoon Charles Wyly, arguing there's been no assurance that the plan will be funded.

  8. September 01, 2016

    Wyly Estate Hit With $250M In Tax Liens

    The estate of deceased business tycoon Charles Wyly has been hit with $250 million in tax liens, according to a filing on Wednesday in Texas bankruptcy court that comes as the IRS and the U.S. Securities and Exchange Commission contest a proposed Chapter 11 plan that they say is "unconfirmable." 

  9. August 26, 2016

    SEC, IRS Say Wyly Ch. 11 Plan Flawed By Isle Of Man Trusts

    The IRS on Friday objected to a Chapter 11 plan proposed in Texas bankruptcy court by the widow of business tycoon Charles Wyly, echoing concerns raised by the U.S. Securities and Exchange Commission that there's no way to ensure Wyly assets held in Isle of Man trusts would be transferred to fund the plan.

  10. August 11, 2016

    Wyly Wants To Take $1.1B Tax Fraud Appeal To 5th Circ.

    Business tycoon Sam Wyly on Wednesday sought permission from a Texas bankruptcy judge to move forward with a direct appeal to the Fifth Circuit of a ruling he committed tax fraud and owes the Internal Revenue Service $1.1 billion, rather than first litigating the appeal in district court.