Gambler Charged in Insider Case as Mickelson Pledges to Repay
- U.S. announces criminal charges against Davis, Walters
- Two used code words and prepaid phones to pass tips, U.S. says
Gambler Charged in Insider Case That Entangled Mickelson
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Dean Foods Co.’s former chairman, Tom C. Davis, and secretive Las Vegas gambler William “Billy” Walters were charged with an insider-trading scheme that also entangled golfer Phil Mickelson.
In a conspiracy that played out over six years, Walters told Davis to use "Dallas Cowboys" to refer to Dean Foods on the phone he was given. As investigators closed in on the pair, Davis tossed the phone into a body of water and attempted to destroy documents, prosecutors said in announcing the case Thursday.