Texas billionaire Charles Wyly killed in car accident - KCBD NewsChannel 11 Lubbock

Texas billionaire Charles Wyly killed in car accident

Dee and Charles Wyly Dee and Charles Wyly

ASPEN, Colo. (AP) - Texas billionaire and philanthropist Charles Wyly has died in a car accident in western Colorado.

The Colorado State Patrol released a statement saying Wyly's Porsche was hit by a sport utility vehicle Sunday afternoon along a highway near Aspen. The patrol says the 77-year-old died at a local hospital.

In Texas, Wyly and his family donated generously to Dallas arts projects and Republican causes.

Wyly, his brother and their wives donated almost $2.5 million to Republican candidates and committees at the federal level over the past two decades. They gave $20 million to help build Dallas' performing arts center.

The Securities and Exchange Commission last summer accused Wyly and his brother of using offshore havens to hide a half-billion dollars in insider trading profits. The brothers strongly denied the claims.

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