Phil Mickelson Named In Federal Insider Trading Lawsuit [civil, not criminal]

MSN.com ^ | 19 May 2016 | A. J. Perez

[zeestephen]

Mickelson owed [sports gambler Billy] Walters money from gambling debts - Walters "urged Mickelson to trade in Dean Foods stock..." - The SEC claims Mickelson repaid Walters in September 2012, largely, with the trading proceeds.

[PAR35]

Dean Foods is a nasty operation. Not surprised that their name cropped up.

They got big by buying up regional companies which were the life blood of small towns, keeping the labels, closing the local operations, and laying off the manufacturing employees. They should be popular with the worshipers of Ayn Rand, but not worth much as human beings.

[BenLurkin]

Well at least he only owed money to a “sports gambler” and not to a bookie.

[Cowboy Bob]

He should run for Congress. Insider trading is not Illegal if you are a public servant.

[zeestephen]

For those of you who do not follow professional golf, this is a total shock to golf fans.

On a personal level, golf fans probably like Mickelson more than any other golfer in the last 20 years.

Family man, nice guy, “aw shucks” personality.

The idea that he would have $1 million in gambling debts is stunning.

Mickelson has huge advertising endorsements, $50 million in some years.

[oh8eleven]

The idea that he would have $1 million in gambling debts is stunning.
He made almost a million in profit - but I don't think he had gambling debts nearly that high.

[zeestephen]

Yes, you are probably right.

I misread the $931,000 profit he made as being the amount he repaid Billy Walters.

Regardless, it’s going to be hard to explain to his sponsors why he hangs out with a professional gambler.

And it’s going to be hard to explain to his longtime fans, like me, why he made a sudden $2.4 million investment just on a stock tip, spread the investment (his largest ever) across three accounts, and then sold all his shares 8 days later.

I think he is very lucky not to have been indicted on a criminal charge.

[Dick Vomer]

Anybody that is “shocked” about Mickelson gambling is pretty naive. He is a well known gambler. BIG TIME. In Vegas terms he’s a “whale” like Charles Barkley, Michael Jordan etc.....

[zeestephen]

Everyone knows about Jordan and Barkley gambling.

I've never heard a word about Mickelson gambling, except on the golf course.

First time I ever heard about any scandal related to Mickelson was about two years ago when a couple of insider trading investigations mentioned his name.