Sam Wyly

Samuel Evans Wyly (born October 4, 1934) is an American businessman. He first appeared on Forbes's list of richest Americans in 2000 with a net worth of $750 million, and he remained on that list throughout 2010 with a net worth of $1 billion. His initial wealth was acquired following the public offering of University Computing Company. His recent wealth stems from ownership stakes from Sterling Software and Michael's, an American art supply store. In 2010 following a series of investigations, Wyly was charged with federal tax fraud by the SEC and IRS. Following his settlement with federal authorities, and declared bankruptcy in 2014.