Golfer Phil Mickelson to Forfeit Nearly $1 Million in SEC Case
The professional golfer Phil Mickelson has agreed to forfeit nearly $1 million that the Securities and Exchange Commission said was unfairly earned on a tip from an insider trading scheme conducted by a former corporate director and a professional gambler.
The SEC announced criminal charges Thursday against a gambler named William Walters and the former director of Dean Foods, Thomas Davis, alleging that the pair used inside information about the company to make millions of dollars in illicit stock trades between 2008 and 2012.
In 2012, the SEC says, Walters called Mickelson, who owed him money, and urged him to trade Dean Foods stock. The SEC says Mickelson did so the next day and made a profit of $931,000.
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