Phil Under Investigation For Insider Trading?

Multiple news sources are reporting that the FBI and SEC are investigating investor Carl Icahn, Las Vegas bettor William Walters and Phil Mickelson on charges of insider trading. The story originally broke in the Wall Street Journal, but that site is subscription only, so I’ll quote USA TODAY.

According to a story published on the Journal website late Friday, the Federal Bureau of Investigation and the Securities and Exchange Commission are probing whether Mickelson and Walters illegally traded on nonpublic information they allegedly obtained from Icahn about his investments in public companies. The Journal story attributed the information to “people briefed on the probe.”

The feds are said to be investigating whether the past three years Icahn illegally provided Walters — well known in Vegas for his sports-betting abilities — about potentially market-moving investments by Icahn’s company, Icahn Enterprises, the Journal story said.

Icahn, Mickelson and Walters are quoted in the article as denying any knowledge of a probe or declining comment.

 

 

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