FBI, SEC Probe Trading of Carl Icahn, (Mega Sports Bettor)Billy Walters, Phil Mickelson

[bukowski72]

FBI, SEC Probe Trading of Carl Icahn, Billy Walters, Phil Mickelson
Insider-Trading Investigation Began in 2011 With Unusual Trades in Clorox

By
Susan Pulliam and
Michael Rothfeld

Federal investigators are pursuing a major insider-trading probe involving finance, gambling and sports, examining the trading of investor Carl Icahn, golfer Phil Mickelson and Las Vegas bettor William "Billy" Walters.

The Federal Bureau of Investigation and the Securities and Exchange Commission are examining whether Mr. Mickelson and Mr. Walters traded illicitly on nonpublic information from Mr. Icahn about his investments in public companies, people briefed on the probe said.

The probe includes investor Carl Icahn. Reuters

Sports bettor Billy Walters at his Carlsbad, Calif., home. Noah Webb for The Wall Street Journal

Investigators are examining whether over the past three years Mr. Icahn tipped Mr. Walters—famous in Las Vegas for his sports-betting acumen—about potentially market-moving investments by Mr. Icahn's company.

The FBI and SEC are examining whether Mr. Walters on at least one occasion passed a tip on to Mr. Mickelson, these people said, and are studying the two men's trading patterns.

More:
http://online.wsj.com/articles/fbi-s...son-1401492772

[ThreeBet]

BILLY WALTERS IS GOD
/THREAD

[bukowski72]

SWEETHEART LAND DEAL

Las Vegas Tribune
January 24,1999
COMMENTARY: Steve Miller

There is a 16-acre parcel of vacant land owned by Billy Walters located on the Southeast corner of East Desert Inn Rd. and Cabana St. that has recently been listed by Chuck Ruthe Realty for $2.1 million, or $130,000per acre. This property is being advertised as "R3 Golf Course Frontage." The parcel is located roughly 1500 feet west of Walters' Royal Links Golf Course property line. To the amazement of many, Mr. Walters bought his leased 160 acres of similar land from the taxpayers for only $5,600 per acre. Councilman Mike McDonald's excuse for voting for the sweetheart deal? He needed the money to build parks.
http://www.stevemiller4lasvegas.com/Walters.htm

[bukowski72]

Jon Daly
I Actually Lost $90(65) MILLION Gambling
... But I Won Some Back
5/31/2014 12:35 AM PDT BY TMZ STAFF


John Daly tells TMZ Sports ... he was able to calculate his gambling losses during a 15-year casino binge thanks to tax returns that showed $90 MILLION in losses and only $35 million in wins.

The golf pro recently talked about his betting habit ... and said his net loss was $55 million -- between 1992 and 2007.

"It shocked me," Daly tells TMZ Sports.

Daly says he would keep a detailed record of all of his major gambling sprees -- and when he crunched the numbers, he almost couldn't believe how much cash he lost.

"It was more about the adrenaline than the money ... I loved the action."

John says he would take out million-dollar markers at casinos all over the world to play blackjack -- and recalls often having $600k on the table at one time.

"I would play 7 hands at one time," John said ... noting that he got a rush when people would crowd around the table and watch him play.

Daly says his agents tried to help him take control over his habit but "it was just fun for me."

When asked if he regretted his gambling habit, John didn't give a "yes or no" answer -- but said, "Man, I had a great time."

For the record, John says he NEVER bet on golf -- mainly cards ... and he'd occasionally wager on football and the NBA. Now, he sticks to slots.

"I guess you can say I always liked to take chances. Sometimes it works out. Sometimes it doesn't."

http://www.tmz.com/2014/05/31/john-d...#ixzz33QA0MNCC

[ftpjesus]

FBI, SEC Probe Trading of Carl Icahn, Billy Walters, Phil Mickelson
Insider-Trading Investigation Began in 2011 With Unusual Trades in Clorox

By
Susan Pulliam and
Michael Rothfeld

Federal investigators are pursuing a major insider-trading probe involving finance, gambling and sports, examining the trading of investor Carl Icahn, golfer Phil Mickelson and Las Vegas bettor William "Billy" Walters.

The Federal Bureau of Investigation and the Securities and Exchange Commission are examining whether Mr. Mickelson and Mr. Walters traded illicitly on nonpublic information from Mr. Icahn about his investments in public companies, people briefed on the probe said.

The probe includes investor Carl Icahn. Reuters

Sports bettor Billy Walters at his Carlsbad, Calif., home. Noah Webb for The Wall Street Journal

Investigators are examining whether over the past three years Mr. Icahn tipped Mr. Walters—famous in Las Vegas for his sports-betting acumen—about potentially market-moving investments by Mr. Icahn's company.

The FBI and SEC are examining whether Mr. Walters on at least one occasion passed a tip on to Mr. Mickelson, these people said, and are studying the two men's trading patterns.

More:
http://online.wsj.com/articles/fbi-s...son-1401492772

Come on people how can you miss the connection. Unusual trades in Clorox and 2011 being the time of Black Friday. Given the propensity of people to suggest drinking Clorox on certain forums and the angst of BF. It all fits.

[hongkonger]

Being a lawyer I have known a few people who were targeted in insider trading investigations. What always struck me was how little money they made compared to the risk they were taking. I knew a lawyer who was a partner at a big firm who was insider trading on his clients' information. He only made about a quarter million over several years compared to his salary which was about $350K. What's the point? He made a deal to avoid federal pound-you-in-the-ass prison but can never practice law again.

[bukowski72]

Honkonger

I think that is true in most cases. Both Martha Stewart and Mark Cuban made/saved very little money. I think some of it is the psychological want of being an insider.

I saw reports on CNBC and Fox news about this and I think Walters and Mickelson may be in trouble. The FBI came of to the airport to meet Mickelson at his private jet.

According CNBC someone came in and bought huge amount of Clorex options to open with FOUR days left to expiration. That is a huge red flag. If either of those buyers were Walters or Mickelson and they don't usually trade options -- and they don't trade them in this super aggressive way they are in big trouble. The Icahn deal was announced 3days after the options were bought. This is along the same lines as the time Wayne Rooney's dad bet a huge amount on player getting a red card in some obscure game and boom it happened.

EDIT: Fox news reporting that the news of the investigation was leaked so the government will have trouble getting stuff off of wiretaps and this will make it harder to prosecute.

[bukowski72]

Gambler Implicated In Mickelson/Icahn Insider Trading Investigation Does Not Need These Distractions Right Now
By Bess Levin

"At any other time, fine, Billy Walters could deal with the fact that federal authorities are reportedly “examining a series of well-timed trades” made by him and golfer Phil Mickelson, that Carl Icahn may or may not have mentioned in passing to the the men. But not now. Not when he’s gearing up for the fourth annual “World’s Sexiest Golf Tournament,” which is less than three months away and needs his undivided attention."
http://dealbreaker.com/2014/06/gambl...ons-right-now/


Gambler Linked to Icahn-Mickelson Faced $15 Million Loss
By David Glovin and Neil Weinberg Jun 6, 2014 10:30 AM ET

"William “Billy” Walters, the Las Vegas gambler who U.S. authorities are said to be investigating in connection with possible insider trading in 2011 and 2012, was at the time facing a multimillion-dollar debt to the government over a soured golf-course deal, according to court records.

In early 2011, Walters told CBS’s “60 Minutes” in a rare interview that he wagered millions of dollars on football and basketball and had never had a losing year as one of Vegas’s biggest sports bettors. Walters had a $20 million jet and seven homes, the program reported.

Around the same time, though, Walters owed as much as $15.25 million to the Federal Deposit Insurance Corp. stemming from the 2006 sale of the Stallion Mountain golf club in Las Vegas by a company he owned, according to documents in two lawsuits reviewed by Bloomberg News. "
http://www.bloomberg.com/news/2014-0...lion-loss.html

[hotshott74]

Bump...

Report: $2.75 million of Phil Mickelson's money linked to illegal gambling operation

Gregory Silveira, a former sports gambling handicapper, has pleaded guilty to three counts of money laundering involving $2.75 million reportedly linked to Phil Mickelson as part of "an illegal gambling operation," Mike Fish and David Purdum report for ESPN's "Outside the Lines," citing two unnamed sources close to the investigation.

According to the report, Mickelson is not being investigated and has not been charged in the case.

The case against Silveira revolves around a $2.75 million wire transfer he received from a "gambling client" and was to be used for "illegal sports betting."

Mickelson is not named in the court documents. However, the two sources for "Outside the Lines" identified Mickelson as the unnamed "gambling client." Also, an initial plea agreement referred to "money laundering of funds from P.M."

According to the ESPN report, Mickelson has a history of sports gambling, with sources telling "Outside the Lines" that Mickelson has "won far larger sums betting on major sporting events like the Super Bowl" and that "Mickelson still bets on sports in Vegas."

Silveira is facing up to 60 years in prison but is expected to be sentenced to far less.

Mickelson's publicist declined to comment on the report when contacted by Business Insider. One of Mickelson's attorneys declined to comment in the ESPN report.

Read more: http://www.businessinsider.com/repor...#ixzz3eUHIWKeu

https://ca.sports.yahoo.com/blogs/go...4645-golf.html

[Tony]

Bump...

Report: $2.75 million of Phil Mickelson's money linked to illegal gambling operation

Gregory Silveira, a former sports gambling handicapper, has pleaded guilty to three counts of money laundering involving $2.75 million reportedly linked to Phil Mickelson as part of "an illegal gambling operation," Mike Fish and David Purdum report for ESPN's "Outside the Lines," citing two unnamed sources close to the investigation.

According to the report, Mickelson is not being investigated and has not been charged in the case.

The case against Silveira revolves around a $2.75 million wire transfer he received from a "gambling client" and was to be used for "illegal sports betting."

Mickelson is not named in the court documents. However, the two sources for "Outside the Lines" identified Mickelson as the unnamed "gambling client." Also, an initial plea agreement referred to "money laundering of funds from P.M."

According to the ESPN report, Mickelson has a history of sports gambling, with sources telling "Outside the Lines" that Mickelson has "won far larger sums betting on major sporting events like the Super Bowl" and that "Mickelson still bets on sports in Vegas."

Silveira is facing up to 60 years in prison but is expected to be sentenced to far less.

Mickelson's publicist declined to comment on the report when contacted by Business Insider. One of Mickelson's attorneys declined to comment in the ESPN report.

Read more: http://www.businessinsider.com/repor...#ixzz3eUHIWKeu

https://ca.sports.yahoo.com/blogs/go...4645-golf.html

I get the fact the law is the law. But give me a fucking break. If a grown man wants to make a wager on a sports event, he should not be forced to fly to Las Vegas. This is patently absurd.

So let me get this straight, you can buy an automatic weapon, but you can't make a bet on the Cowboys from your couch. Yes, makes sense.

If the government were serious about illegal gambling they would treat the offenders with the same judicial system that sentences druggers that buy meth and cocaine. But they can't do that because half of the adult males would get arrested and it would cripple the system.

[NaturalBornHustler]

You throw 2.75 milli into a gambling acount you are a GOD in my book. Forever.

Who fucking cares, it is his money he will do with it what he wants. None of anyone's fucking business.

[limitles]

Yeah who knows. Phil Mickelson is or has been the model to which golf likes to lean on.
The clean cut collegian with morals equal to his talents. Ya never know what tempts some and repels others but in my heart I doubt Phil profited illegally, knowingly.

Honesty among golfers is considered integral to the game. You can cheat, relatively easily in golf, even it's a slight bump of the club when no on can see. This becomes less likely if you're a pro on TV but this code of "ethics" is learned early and seems to stick for most.

Phil obviously needs no more money than he has so it's hard for me to buy into this conspiracy, at least involving Phil directly.

[limitles]

Bump...

Report: $2.75 million of Phil Mickelson's money linked to illegal gambling operation

Gregory Silveira, a former sports gambling handicapper, has pleaded guilty to three counts of money laundering involving $2.75 million reportedly linked to Phil Mickelson as part of "an illegal gambling operation," Mike Fish and David Purdum report for ESPN's "Outside the Lines," citing two unnamed sources close to the investigation.

According to the report, Mickelson is not being investigated and has not been charged in the case.

The case against Silveira revolves around a $2.75 million wire transfer he received from a "gambling client" and was to be used for "illegal sports betting."

Mickelson is not named in the court documents. However, the two sources for "Outside the Lines" identified Mickelson as the unnamed "gambling client." Also, an initial plea agreement referred to "money laundering of funds from P.M."

According to the ESPN report, Mickelson has a history of sports gambling, with sources telling "Outside the Lines" that Mickelson has "won far larger sums betting on major sporting events like the Super Bowl" and that "Mickelson still bets on sports in Vegas."

Silveira is facing up to 60 years in prison but is expected to be sentenced to far less.

Mickelson's publicist declined to comment on the report when contacted by Business Insider. One of Mickelson's attorneys declined to comment in the ESPN report.

Read more: http://www.businessinsider.com/repor...#ixzz3eUHIWKeu

https://ca.sports.yahoo.com/blogs/go...4645-golf.html

I get the fact the law is the law. But give me a fucking break. If a grown man wants to make a wager on a sports event, he should not be forced to fly to Las Vegas. This is patently absurd.

So let me get this straight, you can buy an automatic weapon, but you can't make a bet on the Cowboys from your couch. Yes, makes sense.

If the government were serious about illegal gambling they would treat the offenders with the same judicial system that sentences druggers that buy meth and cocaine. But they can't do that because half of the adult males would get arrested and it would cripple the system.

No one is bothered by someone betting their money on the outcome of a game. If the game is fixed or there is inside information tilting the odds in the favour of one better over another then people and the law become very interested