Phil Mickelson named in insider trading probe
PHIL Mickelson is in the water, and it’s hot.
The five-time major-champion golfer was named in a federal insider-trading lawsuit overnight, claiming that he made nearly $US1 million ($1.4 million) from non-public information in the trading of Dean Foods stock, The New York Post reports.
The complaint was filed by the Securities and Exchange Commission in the US District Court for the Southern District of New York. Because the case is in civil court, the SEC is seeking “all ill-gotten gains in the form of illicit trading profits.”
Also named in the suit is Billy Walters, who is a well-known sports gambler and allegedly passed on the information to Mickelson in July of 2012.
Mickelson allegedly made almost $US1 million after getting the insider trading tip from Walters and then used some of the money to pay back Walters, to whom he allegedly owed money.
Why am I not surprised... Phil Mickleson is an acquired taste... one I've never acquired.