Friday, 22 August 2014
Last updated 5 hours ago
Aug 9 2011 | 12:42pm ET
Maverick Capital co-founder Charles Wyly was killed in a car accident Sunday morning near the Aspen-Pitkin County Airport in Colorado.
Wyly, who made billions with his younger brother and business partner, Samuel, was hit by a sports utility vehicle while turning onto a highway near the airport. Wyly, who had a home in Aspen, had taken his Porsche to the airport to get a cup of coffee and a newspaper. He was 77.
Wyly and his brother’s business empire at times included crafts chain Michaels Stores and the Bonanza Steakhouse chain. The two were early pioneers in the computer industry and sold Michaels to Bain Capital and the Blackstone Group five years ago for $6 billion.
Last year, the two men were sued by the Securities and Exchange Commission for $550 million. The regulator accused the two men of insider-trading and hiding assets, diverting some of their ill-gotten gains into Maverick and another hedge fund founded by Sam Wyly, Ranger Capital.
The Wylys have denied any wrongdoing, but lost a bid to have the suit dismissed in March.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note