Texas billionaire investor and philanthropist Charles Wyly was killed in a traffic accident in Aspen Sunday.
Wyly, 77, of Dallas, has a home in Woody Creek near Aspen. His Porsche 911 Targa was turning left onto Colorado Highway 82 from Airport Road when it was broadsided by a Ford Freestyle sport-utility vehicle just before 11 a.m., the Colorado State Patrol said.
Wyly died from his injuries at Aspen Valley Medical Hospital, State Trooper Heather Cobler said.
The SUV driver, Genezi Lacerda, 40, of Snowmass Village had “moderate” injuries, Cobler said.
The cause of the crash is under investigation, but Cobler said it did not appear drugs or alcohol were factors.
Wyly is survived by his wife, Caroline “Dee” Wyly, and four children and seven grandchildren.
Records indicate he has lived in Aspen since at least 2008. Property records value his Woody Creek estate at more than $17.2 million.
According to his personal website, Wyly was raised in Delhi, La., but has lived and operated businesses in Dallas.
Charles Wyly’s business accomplishments include being co-founder and past chairman of Michaels arts and crafts stores. He also was founder of USACafes, which franchised more than 600 Bonanza Steakhouse restaurants before he sold the business in 1989.
Wyly is the past chairman of the Dallas advisory board for The Salvation Army and board chairman for the Dallas Theater Center. He served on the boards of the United Way of Dallas, the Dallas Museum of Art and the Dallas Summer Musicals, among numerous civic involvements.
They Wyly brothers also are known for their support of conservative political candidates.
The Securities and Exchange Commission last year accused Wyly and his younger brother, Sam, of reaping $550 million from insider trading over a 13-year period.
They allegedly traded tens of millions of shares in companies on whose boards they served, allegedly administering the transactions through off-shore subsidiaries.
They have denied the claims.
At the time the charges were filed last year, the Associated Press reported that the Wyly brothers and their wives have donated almost $2.5 million to more than 200 Republican political causes and candidates, including President George W. Bush, President George H.W. Bush, Bob and Elizabeth Dole, Kay Bailey Hutchison and others.
Joey Bunch: 303-954-1174 or jbunch@denverpost.com
