Rep. Jeb Hensarling's deep ties to billionaire Wyly brothers could bring trouble
WASHINGTON — A guilty verdict against the Dallas billionaire Wyly brothers in an illegal trading case could prove to be a headache for one of Texas’ most powerful lawmakers.
Dallas Republican Rep. Jeb Hensarling received more campaign donations from Charles and Sam Wyly than any other Texas congressman. But his ties go well beyond contributions: The Wylys helped him earn business chops that enabled his political rise.
As chairman of the House Financial Services Committee, Hensarling helps oversee the Securities and Exchange Commission. He has been an outspoken critic of the Wall Street watchdog.
A federal jury in New York agreed Monday with the agency’s allegations that the brothers reaped $550 million in illegal investment gains hidden through a web of offshore companies. Penalties have yet to be decided for Sam Wyly and the estate of brother Charles, who died in 2011.
More at http://www.dallasnews.com/business/business-headlines/20140513-jeb-hensarling-s-deep-ties-to-billionaire-wyly-brothers-could-bring-trouble.ece .
= new reply since forum marked as read
