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Tag: Phil Mickelson

FBI Agent Admits Leaking Inside Information to Media about Gambler, Pro Golfer

Golfer Phil Mickelson

Golfer Phil Mickelson

By Steve Neavling
ticklethewire.com

An FBI agent may be held in contempt of court after confessing to being a “significant source” of leaks to the media about the insider trading investigation involving professional golfer Phil Mickelson and a Las Vegas sports gambler.

Prosecutors on Friday said the agent, who has not been identified, could be held in contempt for potentially jeopardizing the case with leaks involving famed gambler William “Billy” Walters, CNBC reports. 

The agent’s case has been referred to the FBI’s Office of Professional Responsibility and the Justice Department’s Office of Inspector General.

The agent said he leaked information to the New York Times and Wall Street Journal.

Columnist: FBI Has Made ‘Public Sport of Stalking’ Pro Golfer Phil Mickelson

By Norm Pattis
New Haven Register

I have no idea whether Phil Mickelson, one of the world’s premier golfers and three-time winner of the Masters golf tournament, is guilty of insider trading. But the mere fact that we are talking about it tarnishes his reputation. And why are we talking about it? The FBI has made public sport of stalking him.

It all has to do with the price of Clorox stock. In 2011, Mickelson and several others, including a big-time sports bettor from Las Vegas named William Walters, made millions virtually overnight on well-timed stock trades, according to reports published in The New York Times and elsewhere.

How’d they do that? They bought and sold shares just before billionaire Carl C. Icahn announced a takeover bid for Clorox, driving up the price of the shares.

The Securities and Exchange Commission spotted the transactions, and, apparently, federal investigators decided to look more closely at Mickelson, Walters and Icahn, suspecting more than mere serendipity accounted for the windfall.

Insider trading is what criminal defense lawyers call “white-collar crime.” In terms of a bygone era, these offenses are the sort committed by folks who don’t get their hands dirty while working for a living.

Insider trading is basically a form of rigging a market. Information is shared among favored parties before some event affecting a stock’s value is announced on the open market. Those privy to the secrets get a jump on the market.

To read more click here.

FBI Looks into Insider Trading Involving Pro Golfer Phil Mickelson, Billionaire and Gambler

Steve Neavling
ticklethewire.com

Pro golfer Phil Mickelson said he’s cooperating with the FBI in an investigation involving allegations of insider trading.

The USA Today reports that investigators are trying to determine whether Mickelson and Las Vegas gambler William “Billy” Walters illegally traded on public information from billionaire investor Car Icahn.

Mickelson said he’s cooperating.

“And I’m happy to do so in the future, too, until this gets resolved,” he said in the clubhouse at Muirfield Village.

In a statement released Saturday, Mickelson said: “I have done absolutely nothing wrong. I have cooperated with the government in this investigation and will continue to do so. I wish I could fully discuss this matter, but under the current circumstances it’s just not possible.”