Gambler tied to Phil Mickelson convicted of insider trading
Posted April 07, 2017 7:00 am
NEW YORK (AP) - A Las Vegas gambler linked to golfer Phil Mickelson has been found guilty of insider trading charges.
The verdict Friday capped a three-week trial in federal court in New York City for William "Billy" Walters.
The 70-year-old sports gambler was convicted by a jury that deliberated over two days. Mickelson never testified though he had been on a list of prospective witnesses. Sentencing was set for July.
A prosecutor had said Mickelson earned nearly $1 million after Walters told him to buy Dean Foods Co. stock in 2012. The Securities and Exchange Commission cited Mickelson in a lawsuit and Mickelson agreed to repay it.
Walters was convicted of earning over $40 million illegally.
Mickelson wasn't charged.
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