(Bloomberg) — Former billionaire Samuel Wyly was sued by his ex-wife over claims he hid stock in companies he controlled during their 1991 divorce.
Wyly, who helped build companies including arts-and-crafts retailer Michaels Stores Inc., filed for Chapter 11 protection last year after losing a fraud suit to the U.S. Securities and Exchange Commission. During the SEC trial, the U.S. alleged Sam Wyly and his brother Charles hid a bulk of their holdings offshore.
