Maverick Capital Founder, Brother Charged In $550 Million Fraud

Jul 30 2010 | 12:40pm ET

Hedge fund billionaire Samuel Wyly and his brother and business partner, Charles, have been accused of running a $550 million fraud, replete with allegations of insider-trading and hiding assets.

According to the Securities and Exchange Commission lawsuit, filed yesterday in Manhattan, the Wylys set up an “elaborate sham system” of offshore companies and family offices to skirt disclosing their holdings in public companies on which they served as directors.


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Publisher's Note

    Hedge Funds Care Gala Raises $2 Million For Charity

    Mar 10 2014 | 11:33am ET

    A huge thank you to all of the people who helped make last Thursday’s HFC NY Open Your Heart to the Children Benefit such a success. The charity gala raised nearly $2 million to prevent and treat child abuse in New York, New Jersey and Connecticut. Read more…