The Traderszone Network

Published in TZ Latest News 7 November, 2014 by The TZ Newswire Staff

SEC seeks to double $200 million damages award against businessman Wyly

Securities and Exchange Commission will ask a federal judge to more than double the money Texas businessman Sam Wyly must pay from $200 million to $455 million for his involvement in an offshore fraud scheme, a lawyer for Wyly said on Friday. District Judge Shira Scheindlin in New York has already ordered Wyly and the estate of his late brother Charles to pay $187.7 million plus interest to the SEC, which the regulator has said should total just under $300 million.

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