Chris (Darkness) --care to comment?

Texas billionaire Charles Wyly killed in car crash near Aspen, Colo.

"Wyly, who maintained a home near Aspen, Colo., was turning onto a highway near the local airport when his Porsche was hit by a sport utility vehicle Sunday, the Colorado State Patrol said in a statement. Wyly died at Aspen Valley Hospital."


Charles Wyly helped his brother run their startup computer software company, University Computing, and later founded and led several other companies including arts and crafts retail chain Michaels Stores Inc., which was sold in 2006. He also was a former member of a White House Advisory Council for Management Improvement.


Recent rulings had gone against them.

A federal judge refused to dismiss the case in March.

Two weeks before Wyly's death, the court ordered the brothers to turn over several documents they had sought to withhold under attorney-client privilege.??

The SEC, in a complaint filed in July 2010 after a six-year investigation, accused the brothers of using “an elaborate sham system of trusts and subsidiary companies”

in the Isle of Man and Cayman Islands over 13 years to hide their ownership of stock in four public companies on whose boards they sat, including Michaels Stores.

In March, the brothers lost a bid to have the lawsuit dismissed. The SEC has been seeking to impose penalties and to force the Wylys to turn over $550 million the agency claims they made from the alleged scheme.