Oct. 20, 2014- News service Reuters reports that Sam Wyly, 80, has filed for Chapter 11 bankruptcy in Dallas alleging that he does not have the $300 million the Securities & Exchange Commission seeks for his participation in an offshore scheme.
In a Federal case in New York last month a jury found Wyly and the estate of his late brother Charles liable for on charges that they had a complex system of trusts in the Isle of Man which netted them over half a billion in untaxed profit. Their companies included Sterling Software, Michaels Stores, Sterling Commerce and Scottish Annuity & Life Holdings, now call Scottish Re Group Ltd.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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