Phil Mickelson Gambling
The new European data protection law requires us to inform you of the following before you use our website:
We use cookies and other technologies to customize your experience, perform analytics and deliver personalized advertising on our sites, apps and newsletters and across the Internet based on your interests. By clicking “I agree” below, you consent to the use by us and our third-party partners of cookies and data gathered from your use of our platforms. See our Privacy Policy and Third Party Partners to learn more about the use of data and your rights. You also agree to our Terms of Service.
Mickelson is notorious for his gambling habits. Rumors about his betting approach a near-legendary status. During a practice round at Augusta in 2014, a fan in the gallery bet Mickelson a dollar he couldn’t get the shot up and down the hill.
Golf great Phil Mickelson wasn't anywhere near a courthouse in California on Monday when a 57-year-old money launderer was sentenced to a year and a day in prison. The 45-year-old Mickelson, a five-time major champion, has long been known for his gambling ways on the golf course, both in his style of play and in his practice-round encounters with peers. Phil Mickelson is used to paying off gambling debts, but I’m not sure he’s used to them being this exorbitant. Mickelson, who was tied to Vegas businessman William “Billy” Walters because.
With all of the career earnings and endorsement deals that Phil Mickelson has racked up over the course of his playing days, leading to a quite impressive net worth, one would think that he could sit back happily and count his money.
That appears to not be the case when Mickelson and his associates were investigated by the FBI and the U.S. Securities and Exchange Commission (SEC) in 2014 in an insider trading case regarding activity with stock in Clorox.
What Happened With Phil Mickelson’s Insider Trading Rumors?
He was never charged with any wrongdoing and has strongly denied any illicit activity, however, he did have to pay back roughly $1 million in gains that were obtained through insider information. He was found not to be the main culprit of the insider trading, rather he benefited from the illegal activities of others, primarily that of his gambling associate William “Billy” Walters.
Phil Mickelson Gambling Addiction
Phil Mickelson Gambling Callaway
The activity central to the case were trades made for Dean Foods in 2012. “Billy” Walters was found to have obtained insider information from Thomas Davis, who was formerly a director of the company. Mickelson was not convicted of anything and was able to get away from the case by paying back $931,000 in profit from his trades in Dean Foods, in addition to interest totaling $105,000. It was not alleged that Walters ever passed on his information along to Mickelson, his close associate. Walters was convicted in 2017 of profiting more than $40 million through his trading activity in Dean Foods during the period of 2008 to 2014.
Phil Mickelson Gambling Callaway
According to the reports, Mickelson invested $2.4 million in Dean Foods, in which he earned over $900,000 in profit; he then returned this profit to Walters to pay off gambling debts that he owed to him.