By Nate Raymond

(Reuters) – Texas tycoon Sam Wyly is set to face off against the Internal Revenue Service at trial on Wednesday over more than $2 billion the agency says he owes for using offshore trusts to engage in one of the largest tax frauds in U.S. history.

The trial in federal bankruptcy court in Dallas comes nearly a year after Sam Wyly and his late brother Charles’ estate were ordered to pay the Securities and Exchange Commission $299.4 million for engaging in a massive securities fraud through those same trusts.

In the SEC case, a Manhattan jury in 2014 found the read more >>>

Source : BusinessInsider.Com