Posted:
#1
https://www.reuters.com/article/us-usa-insidertrading-walters-idUSKBN1O328K
Las Vegas gambler Walters loses insider trading appeal
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Posts: 10
Posted:
#6
Quote Originally Posted by Lippsman:
Quote Originally Posted by TheGoldenGoose:
For how many years was his conviction?
5 years, although he is currently serving time. He is in club fed in Pensacola. It looks like older dorm rooms. Mickelson had to pay the money back but somehow avoided prison timeFor how many years was his conviction?
His lawyer fees for this case was likely equal if not more than his debt repayment...thats some lawyer keeping him out of jail
MAGAm Yisrael Chai
Posted:
#7
The U.S. Securities and Exchange Commission alleged that in July
2012, Walters pushed Mickelson to buy Dean Foods stock based on inside
information Walters had about the spinoff of one of its divisions.
Mickelson earned nearly $1 million in profits selling the stock after it
surged on the spinoff news, which he used to repay a gambling debt to
Walters.
Mickelson agreed to turn over to the SEC slightly more than $1 million based on his profits, plus interest, while Walters faced indictment for allegedly profiting and avoiding losses of $40 million based on "numerous illegal tips he got about the company."
~~~~~ZOSO~~~~~
Posted:
#10
Quote Originally Posted by packersbackers:
Quote Originally Posted by Lippsman:
His lawyer fees for this case was likely equal if not more than his debt repayment...thats some lawyer keeping him out of jail Quote Originally Posted by TheGoldenGoose:
For how many years was his conviction?
5 years, although he is currently serving time. He is in club fed in Pensacola. It looks like older dorm rooms. Mickelson had to pay the money back but somehow avoided prison timeFor how many years was his conviction?
His name is Glenn Cohen from Jacksonville, FL. Mickelson obviously has the funds to pay his attorney whatever he wants. Even the legal system knows putting Mick in jail would be a very bad look.
But a professional gambler from Vegas ? It's like stalking the Mafia to the feds.
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