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SEC Accuses Sam And Charles Wyly, Billionaire Dallas Investors, Of Insider Trading Yielding $550 MILLION


DALLAS ? Sam and Charles Wyly, Dallas billionaire investors known for their support of conservative candidates and causes, made $550 million in undisclosed profits through 13 years of insider trading, according to a Securities and Exchange Commission lawsuit filed Thursday.

In a 78-page complaint filed in a Manhattan federal court in New York, the SEC said the Wylys held and traded tens of millions of shares in companies on whose boards they served and "defrauded the investing public" by misrepresenting their ownership and trading of those stocks.

"The apparatus of the fraud was an elaborate sham system of trusts and subsidiary companies located in the Isle of Man and the Cayman Islands ... created by and at the direction of the Wylys," the SEC complaint stated. Web Page

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Originally posted by johnny

There are a lot of things Michael Richards says that I agree with. I live in a city where Hispanics comprise 60% of the population, yet are considered a minority. I get the "Great White Father" arriving to make America his, stealing it from the Native Americans, Texas from the Mexicans, etc. And I'd love to discuss this..great thread..short on time, damn it. So true, when our kids were in High School..they're in their mid to late 30's now...they'd get called White Bitches by the Black girls..but let one of mine call a Black girl a Black Bitch and all fucking shit would have broken out. And, yes, in a 60% Hispanic city of 1.8 million there's the Mexican-American Young Lawyers Assoc, etc..

You get the idea, and it's frustrating being a Liberal in the Big State, because the feelings I get if I so much hint at an anti Hispanic or Black person in a less than "Good to see you..how you doin' way?" I'm considered a racist. Maybe I don't feel cheery and I'm not going to falsify my mood lest I be perceived a RACIST. Fuck 'em all. I'm going to go watch Woody Allen.

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