Posted on 05/30/2014 5:45:23 PM PDT by John W
Federal investigators are pursuing a major insider-trading probe involving finance, gambling and sports, examining the trading of investor Carl Icahn, golfer Phil Mickelson and Las Vegas bettor William "Billy" Walters.
The Federal Bureau of Investigation and the Securities and Exchange Commission are examining whether Mr. Mickelson and Mr. Walters traded illicitly on nonpublic information from Mr. Icahn about his investments in public companies, people briefed on the probe said.
Investigators are examining whether over the past three years Mr. Icahn tipped Mr. Walters—famous in Las Vegas for his sports-betting acumen—about potentially market-moving investments by Mr. Icahn's company.
The FBI and SEC are examining whether Mr. Walters on at least one occasion passed a tip on to Mr. Mickelson, these people said, and are studying the two men's trading patterns.
(Excerpt) Read more at online.wsj.com ...
Phil? Say it ain’t so!
Oh somebody else to shakedown.
Move to Florida and stay away from professional gamblers Phil. I’m sure Jack could scare up a nice lot for him at the Bear’s Club.
Wouldn’t be surprised if an IRS audit is forth coming.
God I hate this corrupt government. HATE IT.
You beat me to it - somehow it’s OK for congress to trade on insider info, or worse, laws they’re creating.
"If you add up all the federal and you look at the disability and the unemployment and the Social Security and the state, my tax rate's 62, 63 percent," Mickelson said. "So I've got to make some decisions on what I'm going to do."
Last November, California voters approved of Proposition 30, which raised the state tax rate for those making more than $250,000. Californians who make over $1 million will now be hit with a 13.3% top tax rate, which is the highest of any state. Previously, those making over $1 million in California were hit with a 10.3% tax rate. Those making $250,000 to $300,000 a year will pay 10.3%, which is up from 9.3%.
Big gubmint don't be likin that kind of talk....
NSA?
Hmmm....Didn’t Phil make some anti-tax statements a few years back? Shades of Dinesh???
Congress hates the competition
And in the meantime, the prosecution of John Corzine is????????
“Insider trading” is one of those “crimes” that I’ve never understood. It just sounds like a logical extension of what every investor is trying to do, i.e., make decisions based on the best information available.
I was just thinkin’ the same thing....shakedown.
And in the meantime, the prosecution of John Corzine is????????
^^^^ THIS ^^^^
I guess this is safer than looking to investigate bankers, race baiters, the IRS, or the state Department
IT is only proper that he be destroyed. He is obviously a menace to society.
this has retribution written all over it.
This is 100% BS!
Phil is being spanked for speaking out on our outrageous tax structure.
There is absolutely no reason for any insider trading; if Icahn wants to reward Phil, all he has to do is give him a sponsorship, which is perfectly legal.
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