SEC fails to get $1.4B in case involving Wyly brothers

The Securities and Exchange Commission (SEC) lost out on getting the complete profits from Maverick Capital and Ranger Capital founder Sam Wyly and his late brother

The Securities and Exchange Commission (SEC) lost out on getting the complete profits from Maverick Capital and Ranger Capital founder Sam Wyly and his late brother.

U.S. District Judge Shira Scheindlin refused to let the government take the total profits earned by Wyly and brother, Charles, on allegedly hidden trades, which totaled $1.4 billion, according to a report from FinAlternatives.com.

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Ed Silverstein

Ed Silverstein is a veteran writer and editor for magazines, websites and newspapers. A graduate of Harvard's Kennedy School of Government, he has won several...

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