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Dallas Billionaire Charles Wyly Dies In Car Accident
Posted on Aug 24, 2011
Texas billionaire investor Charles Wyly was killed in a two-car collision in Aspen this month, leaving behind a number of charitable projects along with an insider trading lawsuit.
According to the Aspen Daily News, the 77-year-old Dallas man was turning left out of the private aviation area of the Aspen Airport when he was struck by an oncoming car driven by 40-year-old Genezi Lacerda. Wyly died of multiple injuries sustained in the crash, while Lacerda suffered non-life-threatening injuries. Initial information regarding the crash shows that Wyly, who often got coffee and read the paper at the airport, had a stop sign but nonetheless pulled out in front of the oncoming car.
Aspen Police are still investigating the accident, but believe that Wyly was at fault for the collision for not yielding to the vehicle with the right-of-way. Although they do not believe that charges will be filed against Lacerda, they will investigate her speed at the time of the crash. They do not believe that either driver was affected by drugs or alcohol.
Wyly is credited with funding the Wyly Community Art Center in Basalt and with other philanthropic acts. However, he was also embroiled in a scandal during the last months of his life, in which he and his brother were facing a lawsuit regarding $550 million and accusations of insider trading.
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