WYLY, CHARLES J. WYLY, JR., JURY TRIAL. DEMANDED
MICHAEL C. FRENCH and LOUIS J.
SCHAUFELE
Defendants.
Plaintiff Securities and Exchange Commission ("Commission"), for its Complaint
against defendants Samuel E. Wyly ... Charles
Wyly") (jointly, the "Wylys"), Michael C. French ("French") and Louis J. Schaufelc III
("Schaufele"), (collectively, "Defendants"), alleges as follows:
SUMMARY OF THE ALLEGATIONS
1. Defendants Sam Wyly and Charles ... unlawful gain of over
$31.7 million. The Wylys' attorney, French, and their stockbroker, Schaufele,
substantially assisted the Wylys' fraudulent scheme, each reaping financial rewards for
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doing so. Each