SEC chart of alleged activity between Phil Mickelson and sports gambler Billy Walters on insider trading case pic.twitter.com/isFrxsfTY6— Darren Rovell (@darrenrovell) May 19, 2016
PHIL MICKELSON WASN'T CRIMINALLY CHARGED in an insider trading case that lasted five years. But he doesn't fare as well in the court of public opinion.
The Securities and Exchange Commission on Thursday alleged that golfer Phil Mickelson made $931,000 after purchasing stock on an insider trading tip from sports gambler Billy Walters and then used some of the money to pay back Walters, to whom he allegedly owed money.
The SEC on Thursday said Mickelson, who was not criminally charged, has agreed to pay back "all ill-gotten gains," which, including interest, totals $1.03 million....
"Simply put, the money Mr. Mickelson made was not his to make," said Andrew Ceresney, director of the SEC's enforcement division.