The U.S. Securities and Exchange Commission faces off against wealthy Texas investor Samuel Wyly and the estate of his late brother, Charles, this week in a trial over long-standing accusations that they engaged in a $550 million fraud.
Jury selection is set to begin Monday in a federal court in New York in what is expected to be the biggest test this year of the SEC’s ability to hold individuals accountable at trial, following a recent series of disappointing verdicts in fraud and insider trading cases.
via After years of probes, SEC fraud trial over Texas tycoons to start — Reuters
