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Phil Mickelson Accused of Insider Trading: Latest Comments and Reaction
Published: May 19, 2016
According to Steve Goldstein of MarketWatch, gambler William "Billy" Walters allegedly gave the 45-year-old Mickelson a tip on Dean Foods after former Dean Foods chairman Thomas Davis provided Walters with the information.
Mickelson—a five-time major champion and three-time Masters winner—reportedly made around $931,000 in one week after buying $2.4 million in Dean Foods securities.
Per ESPN.com's David Payne Purdum, Mickelson was not charged criminally and is instead part of a civil lawsuit. Mickelson's attorney told Will Gray of GolfChannel.com that Mickelson "entered into an agreement" with the SEC in which he will return all of the money he made from the trade.
Gray reported Mickelson agreed to pay $1,037,029.81, the profits plus interest. Luke Kerr-Dineen of USA Today noted the total comes out to 1.3 percent of his career on-course earnings.
According to Dan Wolken of USA Today, Mickelson was not previously a significant player in the stock market:
Per Yahoo Sports, Lefty's career golf earnings total more than $86 million, not including what he's made off endorsements.
In 2014, David Glovin and Neil Weinberg of Bloomberg reported the FBI and SEC were investigating Mickelson and Walters for the Dean Foods development in 2012 and a connection with Clorox Co. in 2011.
With the U.S. Open set for June 16—the one major Mickelson hasn't claimed—it's unclear how this will impact his status.
Follow @MikeChiari on Twitter.
Read more Golf news on BleacherReport.com
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Article Source: Bleacher Report - Golf
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