4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

Phil Mickelson faces gambling-related charges

Did pro golfer profit from inside information?

Phil Mickelson
Phil Mickelson

Top pro golfer Phil Mickelson was charged with insider trading today (May 19) in a Securities and Exchange Commission complaint that will be tried in federal court in the Southern District of New York.

The primary defendants in the case are William T. (Billy) Walters, a Las Vegas–based professional sports gambler and friend of Mickelson; and Thomas C. Davis, a director of Dean Foods.

Mickelson and two others are named as relief defendants, or someone who has received ill-gotten funds as a result of illegal acts committed by other named defendants.

Mickelson, reportedly an inveterate gambler on the course, has been linked to insider trading in Dean Foods for some time. In 2014, the New York Times reported that Mickelson was under investigation for insider trading in Clorox stock. When that proved to be untrue, the Times recanted its story but reported that Mickelson and Walters were under investigation for trades in Dean Foods.

According to the SEC's complaint, Walters on several occasions provided Davis with funds of almost $2 million.

The complaint states that in July of 2012, Walters called Mickelson, who had previously placed bets with Walters. Mickelson allegedly owed Walters money at the time. Walters is said to have told Mickelson to buy Dean stock. About a week later, Dean stock zoomed 40 percent, giving Mickelson a profit of $931,000, according to the complaint. Mickelson allegedly repaid Walters partly from the money he made on the Dean trade.

From 2008 to 2012, Davis allegedly gave Walters inside information on Dean. This time, the tip was based on Dean Foods preparing to spin off a profitable operation.

The complaint says Mickelson is a resident of Rancho Santa Fe. In the past, Mickelson has threatened to leave California because of its high taxes; he also put the Rancho Santa Fe home up for sale. Apparently, he did not follow through on either of these actions.

At times in the past, Walters's purchases of Dean stock ranged from 29 to 37 percent of average daily volume in the stock. According to the complaint, Walters bought or sold Dean stock several times after getting tips from Davis.

Here's something you might be interested in.
Submit a free classified
or view all

Previous article

All is not wonderful where Amazon set up in Tijuana

La Nueva Esperanza dwellers expect evictions, property taxes
Next Article

All is not wonderful where Amazon set up in Tijuana

La Nueva Esperanza dwellers expect evictions, property taxes
Phil Mickelson
Phil Mickelson

Top pro golfer Phil Mickelson was charged with insider trading today (May 19) in a Securities and Exchange Commission complaint that will be tried in federal court in the Southern District of New York.

The primary defendants in the case are William T. (Billy) Walters, a Las Vegas–based professional sports gambler and friend of Mickelson; and Thomas C. Davis, a director of Dean Foods.

Mickelson and two others are named as relief defendants, or someone who has received ill-gotten funds as a result of illegal acts committed by other named defendants.

Mickelson, reportedly an inveterate gambler on the course, has been linked to insider trading in Dean Foods for some time. In 2014, the New York Times reported that Mickelson was under investigation for insider trading in Clorox stock. When that proved to be untrue, the Times recanted its story but reported that Mickelson and Walters were under investigation for trades in Dean Foods.

According to the SEC's complaint, Walters on several occasions provided Davis with funds of almost $2 million.

The complaint states that in July of 2012, Walters called Mickelson, who had previously placed bets with Walters. Mickelson allegedly owed Walters money at the time. Walters is said to have told Mickelson to buy Dean stock. About a week later, Dean stock zoomed 40 percent, giving Mickelson a profit of $931,000, according to the complaint. Mickelson allegedly repaid Walters partly from the money he made on the Dean trade.

From 2008 to 2012, Davis allegedly gave Walters inside information on Dean. This time, the tip was based on Dean Foods preparing to spin off a profitable operation.

The complaint says Mickelson is a resident of Rancho Santa Fe. In the past, Mickelson has threatened to leave California because of its high taxes; he also put the Rancho Santa Fe home up for sale. Apparently, he did not follow through on either of these actions.

At times in the past, Walters's purchases of Dean stock ranged from 29 to 37 percent of average daily volume in the stock. According to the complaint, Walters bought or sold Dean stock several times after getting tips from Davis.

Sponsored
Here's something you might be interested in.
Submit a free classified
or view all
Previous article

Last topless bar in North San Diego County

Price of land prevents re-opening of the Main Attraction
Next Article

Teldyne touts San Diego and Chula Vista cop drones

How to get to the crime scene in 98 seconds
Comments
23

Echoes of Martha Steward.

May 19, 2016

but they did not prove he lied about anything when questioned.

thats what they got Martha on.

( the feds don't have to give you your rights before being questioned)

May 20, 2016

Martha went to prison. What keeps this chronic insider trader from being indicted?

May 19, 2016

MichaelValentine: I have several questions, but two in particular: why is Mickelson a close friend of professional gambler Billy Walters, and why does Mickelson owe Walters money? It seems to me Mickelson makes something like $45 million a year. Best, Don Bauder

May 19, 2016

Ponzi: From what we know, I don't think that Mickelson can even be called an inside trader, much less a chronic inside trader. At this point, the SEC charged him only with being a relief defendant. Like you, I suspect there is more, but we have to go with what is on the table. Best, Don Bauder

May 19, 2016

Mickelson purchased another home in Rancho Sante Fe (Home #2). Mickelson was left trying to sell the other RSF home (home #1) that he had moved out of to move into his new RSF home(Home #2). Nickelson's RSF home #1 languished on the market for awhile after the market crash. He finally sold it a last year or the year before (2014 or 2015). Mickelson still lives in RSF home #2.

Texas has very harsh weather and extremes that many who, like Mickelson, who have lived in California a long time probably would not like.

Unless they are vying for bankruptcy. In that case, Texas is very favorable to executives and people who want to buy multi million dollar estates that may be exempt from their bankruptcy cases under Texas homestead laws. Check with your Texas Attorney on that..

May 20, 2016

SportsFan0000: Florida is another state providing asset protection. Best, Don Bauder

May 20, 2016

Murphyjunk: I haven't seen any mention of Mickelson lying to federal investigators. Best, Don Bauder

May 20, 2016

if he had lied, they really could have nailed him.

May 20, 2016

Murphyjunk: Yes, if the government really wanted to nail him. Does it? Best, Don Bauder

May 21, 2016

Mike Murphy: I am not aware of Mickelson touting dangerous drugs. What did he tout, and when? Best, Don Bauder

May 20, 2016

I seem to remember him being in a lot of TV ads for some dubious-sounding pain killer but I can't remember the details.

May 20, 2016

I looked it up - he was in commericals for some kind of arthritis med called enbrel.

May 20, 2016

ImJustABill: But is it dangerous?Best, Don Bauder

May 20, 2016

ImJustABill: Like Roger Hedgecock pushing Metabolife? Best, Don Bauder

May 20, 2016

I think a lot of the radio hosts will pretty much push anything they're paid to push. I can't say KOGO hosts have had a great track record in terms of promoting reputable products.

May 21, 2016

ImJustABill: You have it right. Radio hosts will plug anything for money. Best, Don Bauder

May 21, 2016

Ted Leitner was a big promoter of Metabolife.

May 22, 2016

Ponzi: Yes, both Leitner and Hedgecock pugged it, as I recall. Best, Don Bauder

May 22, 2016

ENBREL, dangerous stuff

May 20, 2016

Murphyjunk: Tell us more. I have never heard of the stuff. Best, Don Bauder

May 20, 2016

google it with danger in the search terms

May 21, 2016

Murphyjunk: Sounds interesting. Best, Don Bauder

May 21, 2016

Sign in to comment

Sign in

Ask a Hipster — Advice you didn't know you needed Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Drinks All Around — Bartenders' drink recipes Excerpts — Literary and spiritual excerpts Feast! — Food & drink reviews Feature Stories — Local news & stories From the Archives — Spotlight on the past Golden Dreams — Talk of the town Letters — Our inbox [email protected] — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Outdoors — Weekly changes in flora and fauna Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer — Inside San Diego suds SD on the QT — Almost factual news Sheep and Goats — Places of worship Special Issues — The best of Street Style — San Diego streets have style Surf Diego — Real stories from those braving the waves Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close