Federal investigators are probing possible insider trading violations between investor Carl Icahn, golfer Phil Mickelson, and Las Vegas high roller William "Billy" Walters.
The Federal Bureau of Investigation and the Securities and Exchange Commission are investigating on suspicions that Mr. Mickelson and Mr. Walters had an illegal advantage in trading based on nonpublic information from Mr. Icahn on his investments in public companies, Fox News reported Friday.
Investigators say the insider trading between Mr. Walters and Mr. Icahn could have been going on for the past three years, with Mr. Walters tipping off Mr. Mickelson on at least one occasion.
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