US sets insider trading case linked to golfer Mickelson

[Sports News]

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US prosecutors laid charges Thursday against a prominent Las Vegas gambler and the ex-chairman of Dean Foods in an insider trading case that enmeshed top professional golfer Phil Mickelson. The Justice Department and the Securities and Exchange Commission said that over six years Thomas Davis, the former Dean chairman, supplied inside tips on Dean and on Darden Restaurants to William Walters, the gambler, that led to $40 million in profits or avoided losses. Walters meanwhile implicated three-time Masters champion Mickelson in the scheme by urging him to trade in Dean stock to help him repay gambling debts to Walters.

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