Local News

Feds to sell banker's Raleigh home

Posted July 10, 2009
Updated July 13, 2009

— The wife of a Raleigh man accused in an international banking scheme will get no money from the sale of their $1 million home in west Raleigh.

A federal court has seized William Wise's 5,200-square-foot, five-bedroom Georgian home in the gated Olde Raleigh subdivision off Duraleigh Road. Investigators with the U.S. Securities and Exchange Commission said they believe it was paid for, in part, with funds from a fictitious Caribbean bank.

Wise, 58, operated Millennium Bank, which he billed as a St. Vincent-based unit of a Swiss bank. The SEC sued Wise and others in March, alleging that the bank was a front for a Ponzi scheme that has stolen more than $68 million from 375 investors, including at least 12 in North Carolina.

No criminal charges have been filed in the case, but courts have frozen Wise's assets so they can be auctioned off to repay investors.

Attorneys for Wise's wife, Lynn Wise, argued that she should be entitled to some of the proceeds from the sale of the family's home, but a judge has ruled against her.

Court papers show a buyer has offered nearly $900,000 for the property, and the sale is scheduled to close Aug. 30.

Wise hasn't returned phone calls seeking comment. Authorities say his whereabouts are unknown, but sources close to the investigation have told WRAL News the Canadian native has returned to that country.


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  • Duke _Nukem Jul 10, 2009

    LOL, get some Mr. and Mrs Wise. The tax man has come.

  • foetine Jul 10, 2009

    why hasn't this woman been escorted over the city limits?

    she'll get nothing and she'll like it

  • howdiditgettothis Jul 10, 2009

    Ditto to kandykisses comments.

    Wonder if they can consider freezing her assets, too? (if any can be found).

    These white collar criminals are vicious and should be punished accordingly, particularly when people work their whole life and save money for their retirement, to have it swept away by a pilferer ponzi thief.

    In a few years, he'll be out living abroad on all the money he's bilked.

    Shame. shame.

  • csswisher Jul 10, 2009

    Greedy men and their stupid, unwitting wives.......or ARE they so unwitting? They are enjoying this lifestyle as much as the husband and I believe that many of them turn their heads to the hubby's wrongdoing and then when the axe falls, they plead innocence and unawares! Do-Do!!!

  • kandykisses Jul 10, 2009

    @ Happygirl08: Don't feel sorry for her. She knew what he was doing. According to Wake County Register of Deeds, they bought the home TOGETHER in June of 2001, then the deed was suddenly changed to just her name in November of 2008. If she didn't know what was going on, she had to wonder why her husband decided to remove his name from the deed. These women know what their husbands are doing, but they believe their hands are clean because they haven't physically participated. Knowing and not saying/doing anything makes them just as guilty.

  • HappyGirl08 Jul 10, 2009

    Well that's a shame for her if she really didn't know what he was up to.

  • AYBABTU Jul 10, 2009

    Greedy jerk

  • alphabaker Jul 10, 2009

    oh Canada !