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Well-known businessman from Dallas killed in car wreck

"Mr. Wyly was a role model, friend and inspiration. He is among the finest people I have ever known. His contributions in business, philanthropy and civic leadership will forever be remembered," says Dallas businessman Charles Wyly's long-time lawyer. Wyly was killed in a car crash on Sunday, as Luisa Kroll reports for Forbes.

Wyly's Porsche appears to have been hit by another driver, sending him to the hospital in critical condition, and then he passed away. Wyly was 77 years old, and leaves behind him a legacy of achievements as a businessman.

Wyly's brother started a computing company after a stint at IBM in the 1960s, and Wyly joined his brother's firm. This was the start of a long line of businesses in food, retail, technology and finance.

Despite Wyly's achievements, there was one large black mark on Wyly's record. As Kroll reports, the SEC charged Wyly and his brother with fraud and insider trading in connection with offshore trust accounts.

Wyly's lawyer has claimed that the SEC never had a legitimate case.

Source: Forbes, "Dallas Tycoon Charles Wyly Killed In Car Accident," by Luisa Kroll, 08/07/11

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