Golfer Phil Mickelson Will Repay Gains From Dean Foods Trades
- Mickelson made about $931,000 on tips from Billy Walters
- Regulator deemed him a ‘relief defendant’ but didn’t sue him
Gambler Charged in Insider Case That Entangled Mickelson
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Golfer Phil Mickelson will repay the profits he made from trading on inside information about Dean Foods Co. that he received from gambler William “Billy” Walters.
The three-time Masters Champion made almost $1 million from the 2012 trading, according to a complaint Thursday by the U.S. Securities and Exchange Commission. The SEC termed him a “relief defendant.” That means Mickelson wasn’t accused of wrongdoing, but was named in the complaint to recover his profits.