Sports Gambler's Insider Case Proves Good Bet for Prosecutors
- Billy Walters conviction reverses bad luck in Wall Stret Cases
- Trial linked Dean Foods trades to golfer Phil Mickelson
Walters arrives at federal court in New York, on April 6.
Photographer: Louis Lanzano/BloombergThis article is for subscribers only.
Las Vegas sports-betting legend Billy Walters passed along one “sure winner” inside stock tip to Phil Mickelson in 2012, allowing the golf champ to make almost $1 million and repay a gambling debt to him.
Five years later, the 70-year-old gambler could face years in prison after a Manhattan jury found him guilty of making $43 million thanks to another golfing buddy who was the source of boardroom secrets. Mickelson, meanwhile, will be taking swings in third-round play at the Masters tournament on Saturday.