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/
ViseGrip
(3,133 posts)maxsolomon
(32,984 posts)don't punish the innocent corporation! corporations are people, my friend.
silvershadow
(10,336 posts)those questions.
bucolic_frolic
(42,670 posts)is one of the few high profile guys keeping things on the up and up
anywhere in the country. He's been unmerciful.
silvershadow
(10,336 posts)a Republican.
monmouth4
(9,664 posts)to those who have no empathy. He's a whine fest by himself anyway..