Ex-Billionaire on Tax Shelters: I Trusted My Lawyers. Judge: Not Good Enough

Updated on
  • Wyly lost a related SEC fraud lawsuit in Manhattan in 2014
  • Dallas bankruptcy judge says Wyly can’t ‘hide behind others’

Sam Wyly arrives at U.S. District Court in Manhattan in May 2014.

Photographer: Kathy Willens/AP Photo

Former billionaire Sam Wyly may have been hoping for a better outcome on his home turf as a Texas judge weighed tax-evasion claims related to the fraud trial he lost in New York two years ago. He didn’t get it.

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