Thursday, 21 June, 2018

Defense: Case against gambler fails because witness lied

Defense: Case against gambler fails because witness lied Defense: Case against gambler fails because witness lied
Orlando Vargas | 08 April, 2017, 00:35

A prosecutor has urged a NY jury to find a professional Las Vegas gambler linked to golfer Phil Mickelson guilty of earning tens of millions of dollars illegally in the stock market. The Las Vegas gambler linked to golfer Phil Michelson said outside court that he "just lost the biggest bet of my life".

"Billy Walters lost his bet that he could cheat the securities markets on a massive scale and get away with it scot-free", said Joon Kim, the acting U.S. Attorney for the Southern District of NY. Bloomberg News reported the ruling in the case that involved Phil Mickelson as a "relief defendant", although the five-time major champ never made an appearance in court.

Walters pleaded not guilty, but the feds claimed Walters had passed those illegal tips to Mickelson in July 2012.

In their second day of deliberations, jurors found Walters, 70, guilty on all 10 counts he faced, including securities fraud, wire fraud and conspiracy, following a three-week trial in federal court in Manhattan. His lawyer promised an appeal.

At one point, assistant USA attorney Brooke Cucinella told the jury, Walters purchased 1.5 million shares of Dean Foods just minutes after Davis left him a phone message telling him the company was spinning off part of its business and was about to report a surprisingly robust earnings announcement.

Google adds 'fact check' to global search results
Others are allowed to fact check articles for them; search results will list the name of the person conducting the checking. Only publishers determined to be an "authoritative source" by algorithms qualify.


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Manchester United manager Jose Mourinho: "If we compare the second half with the first half, the second half was much better". I think it probably wasn't so good (last night) but I thought the lads showed character to keep trying things.


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Mickelson wasn't charged. But the Securities and Exchange Commission accused him in a civil lawsuit of making almost $1 million trading Dean Foods stock. Prosecutors say he earned over $40 million illegally.

At trial, Berke argued Davis had lied to get a sweetheart deal for himself.

"You're going to see it".

When professional gambler Billy Walters was brought up on insider trading charges a while back, we were pretty amused. The prosecutor said Mickelson gave the profits to Walters to cover gambling debts.

Walters, 70, has built a sprawling business of auto dealerships, vehicle rental agencies and golf courses worth hundreds of millions of dollars.

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