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 Insider Trading by Wylys
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MerryA
Advanced Member





Member #: 25
Topics started: 648
Posts: 5752
State: Tennessee
Country: USA
 Posted On: 07/30/2010  At: 08:49:49 AM
Quote:
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

These are the guys who financially backed the Swiftboaters - hope they spend years in prision for their lies and deception




 MerryA's sig 
"Pain changes things." - Greg House

crookedman
Active Member

Member #: 132
Topics started: 43
Posts: 810
 Posted On: 07/30/2010  At: 7:44:09 PM | Reply Link
Sounds like the need a swift boat to hell.

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...only the Shadow knows.
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ghoti
Senior Member





Member #: 7
Topics started: 308
Posts: 3664
City: Ishpeming
State: Michigan
 Posted On: 07/30/2010  At: 9:54:58 PM | Reply Link
So they basically funded the torpedoing of Kerry's campaign with money they obtained illegally? There needs to be an extra-nasty place in prison to lock up folks like them.

 ghoti's sig 
The scientific mindset: try to answer all the questions but be especially sure to question all the answers.

Excuse me, but I believe my karma just ran over your dogma.
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johnny
Advanced Member





Member #: 296
Topics started: 756
Posts: 5458
City: San Antonio
State: Texas
Country: USA
 Posted On: 07/31/2010  At: 12:21:46 PM | Reply Link
The SEC had better do the job they were created to do. Anything less than lengthy prison time will draw attention to the Commission, so I have a hunch these "good 'ol boys" are going to be staked out over an ant bed.

 johnny's sig 
Guaranteed, the best eclectician in town!
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shakey
Active Member





Member #: 120
Topics started: 108
Posts: 2299
City: Platte City
State: MO
 Posted On: 07/31/2010  At: 2:11:22 PM | Reply Link
The other side of that is not appearing like you are getting back at them for political reasons. Would think they'll get more than a slap, and less than they deserve.

 shakey's sig 
I'm always right half the time.
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