- The Washington Times - Thursday, May 19, 2016

Phil Mickelson is ensnared in a federal insider-trading investigation, although it appears federal officials believe the professional golfer had no knowledge of the alleged wrongdoing in question.

Steve Goldstein of MarketWatch.com reports that the three-time Masters tournament champion “used an alleged tip he received from gambler William ‘Billy’ Walters, who got information from a former Dean Foods chairman, Thomas Davis.”

“The SEC said that Walters called and then sent text messages to Mickelson, who ultimately bought a $2.4 million position in three accounts he controlled,” Mr. Goldstein explained.

As Mr. Goldstein reported, Mr. Mickelson’s attorney released a statement this morning saying that his client “takes full responsibility for the decisions and associations that led him to becoming part of this investigation.”

“Mickelson is a relief defendant” in the Securities and Exchange Commission filing, Business Insider’s Bob Bryan explained, meaning he’s “not accused of insider trading, just unwittingly profiting from it.”

“Depending on the outcome of the case, Mickelson will be required to pay back the profits gained from the trades,” Mr. Bryan said.

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