74. The Wylys Secretly Sold Millions of Issuer Securities in Large Blocks Offshore Through the use offtaudulent registration statements and fraudulent Forms 144 and 144(k), the Wylys were able to sell millions oflssuer Securities held in their Offshore System; generating profits in excess of$465 million. Such sales-none of which were disclosed in a Wyly Fonn 4 filing-included:
a. 733,000 Michaels shares (through four Offshore Companies) over a 3month period between May 18 and August 13, 1992;
b. 227,000 Michaels shares (through three Offshore Companies) over a 5-week period between September 30 and November 4, 1992;
c. 532,000 Sterling Software shares (fuough three Offshore Companies) over a 6-week period between November 4 and December 14, 1992;
d. Over 400,000 Sterling Software shares (through six Offshore Compames) over a2-week period between January 11 and January 25, 1996;
e. Over 2.5 million Sterling Software shares (through nine Offshore Companies) over a 3-month period between March 1 and June 6,1996;
f. Over 650,000 Sterling Commerce shares (through three Offshore Companies) over 3-week period between June 11 and July 3, 1997;
g. 1.2 million Michaels shares (through two Offshore Companies) over a 2-week period between June 16 and July 1, 1997;
h. 600,000 Michaels shares (through two Offshore Companies) over an 8-week period between October 22 and December 15, 1997;
i. 1 million Sterling Software shares (through seven Offshore Companies) overa 2~week period between March 17 and March 28, 1998;
j. Just under 2million Sterling Commerce shares (through a total of nine offshore entities) over a 2 1/2-month period between March 20 and June 8,1998;
k. 400,000 Sterling Commerce shares (through two Offshore Companies) over a I-month period between December 1 and December 31,1998;
l. 942,000 Sterling Software shares and over 660,000 Sterling Commerce shares (through three Offshore Companies) over 2 days on February 8-9, 1999;
m. Over 600,000 Michaels shares (through a single Offshore Company) over a 4-week period between January 11 and February 7, 2000;
n. 270,000 shares of Scottish Re (through two Offshore Companies) oyer a 2-week period between May 30, and June 11,2001;
o. Over 1.3 million Michaels shares (through five Offshore Companies) over a 2-month period between September 6 and November 9, 2001; and
p. 709,220 shares of Scottish Re (through two offshore entities) over a 2 week period between December 14 and 24, 2001.
