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WhiteTara

(29,676 posts)
Thu May 19, 2016, 03:45 PM May 2016

Feds: Alleged insider trading plot enmeshed Mickelson

Source: USA Today

NEW YORK A multi-million dollar insider-trading scheme stretched from the boardroom of the nation's largest dairy processor to the world of professional gambling and even enmeshed famed golfer Phil Mickelson, federal prosecutors and regulators alleged Thursday.

Announcing charges in a five-year conspiracy, authorities said former Dean Foods (DF) chairman Thomas Davis systematically fed secret corporate information about his Dallas-based dairy giant and another company to Las Vegas gambler William "Billy" Walters.

Walters used the information to rack up $43 million in illegal profits and avoided losses, said Manhattan U.S. Attorney Preet Bharara and Andrew Ceresney, head of enforcement for the Securities and Exchange Commission. The authorities filed parallel criminal and civil insider trading cases in Manhattan federal court.

Walters allegedly fed some of the information to Mickelson, who made $931,000 in profits on winning trades of Dean Foods shares, said Ceresney.

Read more: http://www.usatoday.com/story/money/2016/05/19/ex-dean-foods-chairman-charged-insider-trading/84582664/

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Feds: Alleged insider trading plot enmeshed Mickelson (Original Post) WhiteTara May 2016 OP
No more chip dip or guacomole dip from dean! ViseGrip May 2016 #1
FORMER chair maxsolomon May 2016 #3
Did they benefit? Is he only the FORMER chair because of this? I don't know the answers to silvershadow May 2016 #4
Manhattan U.S. Attorney Preet Bharara bucolic_frolic May 2016 #2
Just because I am this way, I do hope he is silvershadow May 2016 #5
I remember Mickelson being oh so smug when Tiger Woods was in the middle of all his troubles. Karma monmouth4 May 2016 #6
 

silvershadow

(10,336 posts)
4. Did they benefit? Is he only the FORMER chair because of this? I don't know the answers to
Thu May 19, 2016, 04:11 PM
May 2016

those questions.

bucolic_frolic

(42,670 posts)
2. Manhattan U.S. Attorney Preet Bharara
Thu May 19, 2016, 03:59 PM
May 2016

is one of the few high profile guys keeping things on the up and up

anywhere in the country. He's been unmerciful.

monmouth4

(9,664 posts)
6. I remember Mickelson being oh so smug when Tiger Woods was in the middle of all his troubles. Karma
Thu May 19, 2016, 05:07 PM
May 2016

to those who have no empathy. He's a whine fest by himself anyway..

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