Golfer Phil Mickelson drawn into massive insider trading case
Former Dean Foods chairman Tom Davis, has already pleaded guilty and will testify in the trial of sports gambler Billy Walters — as might financier Carl Icahn
New York — Las Vegas legend Billy Walters is no ordinary gambler. And it’s safe to say his insider-trading trial will be no ordinary trial. Walters, often considered the most successful sports gambler in the country, is set to appear in Manhattan federal court Monday, having pleaded innocent to charges of conspiracy and securities fraud. But Walters, a secretive figure who parlayed his winnings into a business empire of golf courses and car dealerships, isn’t the only attraction in what is already one of the strangest insider-trading cases in memory. Phil Mickelson, the champion golfer, figures into the case too, though it is unclear if he will make an appearance. So does Carl Icahn, the Wall Street financier. And Tom Davis, the former chairman of Dean Foods, who pleaded guilty and is expected to be the prosecution’s star witness. For Walters, the stakes could scarcely be higher. Accused of making $43m on inside tips from Davis, a golfing buddy, Walters faces as many as 20 years in ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.