Lefty Paying back almost $1,000,000 made on insider trade

Discussion in 'The Bar' started by walterHwhite, May 19, 2016.

  1. walterHwhite

    walterHwhite Heisenberg

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    @Sea Slob :rofl:@hoochieking

    http://espn.go.com/golf/story/_/id/...ged-sec-allegedly-profiting-insider-stock-tip

    SEC: Phil Mickelson made almost $1M on insider trade, not criminally charge

    The Securities and Exchange Commission on Thursday alleged 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 is seeking to recoup alleged Ill-gotten gains from Mickelson, who was not criminally charged. Mickelson's attorney said Thursday in a statement that the golfer has entered into an agreement with the SEC and will return all money from the trade in question.

    In its case, the SEC said Mickelson spoke with Walters, with whom he had placed bets, in 2012 about an upcoming spinoff of dairy company Dean Foods. Based on a tip Walters had received, the SEC alleged, Walters told Mickelson to buy the stock. Months after buying 240,000 shares, according to a companion criminal case, Mickelson then repaid Walters using the Dean Foods money, the SEC alleged.

    Walters was charged with insider trading and was arrested late Wednesday in Las Vegas. He will appear in court there Thursday, and is then scheduled to make an appearance before the United States District Court for the Southern District of New York on June 1.
     
  2. Sea Slob

    Sea Slob Well-Known Member

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    Makes sense to just pay it back :dontknow: He makes that on a weekend
     
  3. BobWeired

    BobWeired VIP Extreme Gold

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    I wish they would put that pussy in jail.
     
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  4. banksy

    banksy I tell all my hoes RAKE IT UP VIP

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    Phil is the Teflon Don of golf.
     
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  5. walterHwhite

    walterHwhite Heisenberg

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    Guess it's better than going to jail and spreading his ass wide open :grad:
     
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  6. walterHwhite

    walterHwhite Heisenberg

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    :rofl:
     
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  7. RH Goatcabin

    RH Goatcabin Vice POTY VIP

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    Political lefty or left-handed?
     
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  8. NipplesAndToes23

    NipplesAndToes23 Assistant to the Vice POTY VIP

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    But the insider trading by people in Congress, no big deal. :facepalm:
     
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  9. banksy

    banksy I tell all my hoes RAKE IT UP VIP

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    Yes and!
     
  10. zingger

    zingger I'm Judging You Banned User

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    Pretty sure they threw Martha Stewart in the pen for the same shit
     
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  11. ChuckZ

    ChuckZ My life is one big lazy day VIP

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    damn zingger
     
  12. crazypreacher

    crazypreacher Not followin whitey's rules

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    He has like three jets I think he'll be ok.
     
  13. ClintDagger

    ClintDagger The REAL Nature Boy - Exec VP Larry, Inc VIP

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  14. rolltide

    rolltide VIP Extreme VIP Gold

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    White privilege
     
  15. Mlaw

    Mlaw Quite Contrarian VIP Gold

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    actually no, she got convicted of lying to FBI agents, they never proved the insider trading shit
     
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  16. DarkFriday

    DarkFriday Fired as a MOD...Twice. Gold

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    :yes:
     
  17. Sharrack1

    Sharrack1 Well-Known Member VIP

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    Lol.....10 yrs in the klink for you and me!