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"News Alert: Politically connected Wyly brothers charged with fraud 06:18 PM EDT Thursday, July 29, 2010 The SEC has charged Samuel Wyly and Charles Wyly -- billionaire brothers in Texas who have been major political donors to conservative campaigns -- with reaping more than $550 million through fraudulent practices. The Wylys violated federal securities laws by using offshore accounts to secretly trade the shares of public companies whose boards they sat on, the SEC alleged.”
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