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Sam Wyly Seeks Ch. 11 To Deflect Looming $198M Fine

By Andrew Scurria · October 20, 2014, 7:09 PM EDT

Texas tycoon Sam Wyly sought Chapter 11 protection Sunday, saying he can't afford a potential $198 million government penalty for allegedly using secretive offshore trusts to trade stocks while evading taxes....

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Documents

Case Information

Case Title

Securities and Exchange Commission v. Wyly et al

Case Number

1:10-cv-05760

Court

New York Southern

Nature of Suit

Securities/Commodities

Date Filed

July 29, 2010

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