“Clear and convincing evidence” of tax fraud in Wyly brothers case according to Texas bankruptcy judge
The Great Laxey Wheel, Isle of Man (Credit: iStock.com/Jan Treger)
A federal bankruptcy judge in Texas has ruled that former billionaire brothers Sam and the late Charles Wyly committed tax fraud when they created an extensive series of offshore trusts in the Isle of Man in the 1990s to shield more than US$1 billion.
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