Golf: Phil Mickelson in trouble for insider trading

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Knew Phil liked to gamble, but wow.

http://www.marketwatch.com/story/ph...er-trading-by-the-sec-2016-05-19?link=sfmw_tw

Mickelson said by the Securities and Exchange Commission to have used an alleged tip he received from gambler William “Billy†Walters, who got information from a former Dean Foods DF, +0.48% chairman, Thomas Davis.

The SEC referred to Mickelson as a so-called relief defendant. A relief defendant is someone who has received property obtained illegally but is not directly accused of wrongdoing.

The reason Mickelson, who the PGA Tour website indicated has career earnings of $79.5 million, made these trades? According to the SEC, Mickelson owed Walters money at the time Walters urged him to trade. That’s also the case with Davis — the SEC said he owed Walters money.

 

[Soliloquy of a Dogge]

It feels like these accusations have been hovering around him for the past couple years. Alas, he is the prototypical guy everybody loves and can do no wrong, especially in the golf community where he's deitized.