Does this whole sordid business cast a taint over the soon-to-be-built Dee and Charles Wyly Theater? As the WSJ notes, “The Wyly family’s affairs are now the subject of a federal grand-jury investigation in Dallas.” That investigation centers on possible back-dating of stock options. And then there’s the U.S. Senate panel looking into the off-shore stuff at a hearing tomorrow. So, worst case scenario: the Wylys are indicted. The IRS and the SEC both come calling. Sanctions? Jail time? Theater in the round?
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