Posted: Aug 8, 2011 4:09 AM by Kate Richards
DALLAS (AP) - Texas billionaire Charles Wyly, whose family has given millions of dollars to Republican causes and Dallas arts projects, has died in western Colorado.
The Colorado State Patrol says Wyly was turning onto a highway near Aspen when his Porsche was hit by a sport utility vehicle Sunday. The patrol says the 77-year-old died at a local hospital.
Wyly maintained a home in a community near Aspen.
Wyly, his brother and their wives donated $20 million to help build Dallas' performing arts center.
The brothers had said they'd given about $10 million to Republican candidates and causes since the 1970s.
Last summer, the Securities and Exchange Commission 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.