
Phil Mickelson paid off a debt to a professional gambler with nearly $1 million that was unfairly reaped from an insider trading scheme, according to a federal investigation that led to two arrests but spared the golf great from criminal charges. ''Simply put, Mickelson made money that wasn't his to make,'' Andrew Ceresney, head of the Securities and Exchange Commission's Enforcement Division, said at a Manhattan news conference. The Securities and Exchange Commission and U.S. Attorney Preet Bharara announced separate civil and criminal charges Thursday against the gambler, William Walters, and a former corporate board member of Dean Foods Co., Thomas Davis, alleging that the pair used non-public information about the company to make tens of millions of dollars in illicit stock trades between 2008 and 2012.
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