Call: +353 1 5313 313

For a Free Call Back Email Us

Latest News

Latest News

Mickelson named in insider trading lawsuit

American golfer must repay profits he earned from insider trading tip

Phil Mickelson must pay Securities and Exchange Commission nearly $1 million after profiting from an insider trading tip.

The five-time major champion was named in a federal insider trading lawsuit, which named Mickelson as a so-called “relief defendant,” meaning the golfer has not been accused of any criminal wrongdoing. Since the case is in civil court, the SEC seeks “all ill-gotten gains in the form of illicit trading profits.”

“Phil was an innocent bystander to alleged wrongdoing by others that he was unaware of. Phil is innocent of any wrongdoing,” Gregory B. Craig and Pat Swan, attorneys for Mickelson, said. 

Billy Walters, a well-known sports gambler who allegedly passed the information to Mickelson in July 2012, and Thomas C. Davis, the former head of Dean Foods, along with two companies controlled by Walters. were also listed as defendants.

Mickelson owed Walters money from gambling debts at the time the two chatted over the phone in July 2012, according to the lawsuit. Walters “urged Mickelson to trade in Dean Foods stock, which Mickelson did the next trading day in three brokerage accounts he controlled.”

Mickelson has won $79.5 million in prize money on the PGA Tour.

Ireland's

Top 100

Ireland's Top 100 Ranked Golf Courses – What are the best courses to play?' more

Subscribe

to our newsletter

Get latest updates, offers and more

Why choose

GolfDigest?

Goodie bags, Prizes, 24 helpline, Apres Golf, Daily Contact, Meet and Greet. more

Thank you for taking us to Ireland. Words cannot describe how honored and grateful we are to be part of such a special family. With that said, you have inspired me. Bottom line, I will never forget your passion, drive and commitment to the cause of our Warriors and Freedom. Thank you for your support! Best to you and your families. God Bless Ireland.
Major Ed Pulido US Army Retired

Latest News

Wu secures second European Tour title in Austria

Makes European Tour history as the first Chinese player to record multiple European Tour victories

Read More

More Articles

Berger wins first TOUR event at FedEx St Jude Patience pays off for Brooke Henderson as she captures first major title GB&I defeat U.S. in the Curtis Cup Darren Clarke will skip the U.S. Open at Oakmont
    
Privacy Statement
    
Terms & conditions © 2012 Golfdigestirishtours.comWeb Design by Active Online

Golf Digest Irish Tours Website – We provide all types of Irish golf packages, Irish golf tours and Irish golf trips. We can put any type of Irish golf package together, which will make you Irish golf trip very special, indeed. We have various Irish golf packages already put together based on the region you will be staying. But if you have your own 'must play courses' for your Irish golf trip, we can schedule your entire Irish golf tour around these great courses and custom a special Irish golf package for you and your group.