You do understand that they are all crooks, right? High energy psychopaths who act without compunction. "Behind every great fortune there is a crime." - Honore de Balzac (1799-1850):

Wyly Brothers Face SEC Fraud Charges
Billionaire brothers Sam Wyly and Charles Wyly hid $550 million in trading profits by using an "elaborate sham system" of offshore entities, the Securities and Exchange Commission charged Thursday.

The civil suit, following a six-year probe, targets a pair of entrepreneurs in their mid-70s who amassed a fortune over more than four decades through ventures including Michaels arts and crafts stores.

The SEC said the Wylys used sham trusts and subsidiaries in the Isle of Man and the Cayman Islands to avoid disclosure of their stakes and sales of stock in public companies where they were directors. In one instance, the brothers traded on insider information about an upcoming sale of a company to make a $31 million profit, the SEC alleged...

...The SEC said the alleged scheme began 13 years ago and involved the brothers' Dallas lawyer, Michael C. French, and stockbroker Louis J. Schaufele III. Messrs. French and Schaufele were also charged with fraud. A lawyer for Mr. French couldn't be reached for comment, and a lawyer for Mr. Schaufele declined to comment.

In a 78-page complaint filed in U.S. District Court in Manhattan, the SEC said the brothers created 17 offshore trusts to conceal their ownership and trading. Some of the trusts were named after towns in Louisiana where they were born and attended high school, it said...

Source: Wall Street Journal

...clearly the inevitable result of insufficient government oversight...