Billy Walters Attorney: ‘Prosecutor’s Accusations Based on Erroneous Assumptions’
- Walters charged with insider trading
- Golfer Phil Mickelson must forfeit $1 million after allegedly receiving tip from Walters
- Professional sports bettor’s longtime attorney Richard Wright called his client a solid citizen wrongly accused
- SEC: ‘Walters illegally reaped tens of millions of dollars with the benefit of the ultimate ace in the hole’>
An attorney representing famed professional sports bettor and golf course developer Billy Walters says his client is innocent following news of a late afternoon arrest Wednesday.
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Federal prosecutors announced criminal charges Thursday against William “Billy” Walters and the former director of Dean Foods, Thomas Davis, alleging that the pair used inside information about the company to make millions of dollars in illicit stock trades between 2008 and 2012.
Golfer Phil Mickelson has agreed to forfeit nearly $1 million after allegedly receiving an insider trading tip from Walters.
In a statement, Walters’ longtime attorney Richard Wright called his client a solid citizen wrongly accused.
“Bill Walters is a true American success story, whose accomplishments as a lawful sports gambler have been widely recognized and lauded,” Wright said. “Mr. Walters’s renowned work ethic and many other talents also have helped him achieve great success in business, investing, and philanthropy. Mr. Walters and his counsel look forward to his day in court where it will be shown that the prosecutors’ accusations are based on erroneous assumptions, speculative theories, and false finger-pointing.”
“As we charge in our complaint, Walters illegally reaped tens of millions of dollars with the benefit of the ultimate ace in the hole—confidential information leaked by a sitting board member of a public company,” SEC Enforcement Division Director Andrew Ceresney said. “Additionally, Mickelson will repay the money he made from his trading in Dean Foods because he should not be allowed to profit from Walters’s illegal conduct.”
Below we have the ’60 Minutes’ interview with Walters from a few years ago.
- Aaron Goldstein, Gambling911.com
