Gambling Debts and Prostitutes Take Center Stage at Billy Walters Trial

Written by:
Published on:

A man accused of providing professional sports bettor and golf course developer Billy Walters with insider-trading tips admitted to gambling debts, prostitutes, and theft from a battered women’s charity to cover gambling losses during his second day of testimony.

On Tuesday, former Dean Foods chairman Thomas Davis, 68, told of how he encouraged one-time friend Walters to buy stock in the Dallas-based company he helmed.

Davis said he shared extensive information about Dean Foods with Walters in 2011 and 2012, a time in which the company was looking to spin off.

In May 2014, two FBI agents visited Davis at his Dallas home, saying Walters had earned between $16 million and $17 million on trades involving Dean Foods between May 2012 and August 2012.

David was testifying in order to gain leniency after already pleading guilty to federal insider trading charges including securities and wire fraud.

On Tuesday, Davis talked of how Walters introduced him to pro golfer Phil Mickelson, who is expected to testify later in the trial.  He also mentioned how Walters was close friends with corporate raider-turned US President Donald Trump advisor Carl Icahn.

But it was the former Dean Foods chairman’s confessions of his own wrongdoings that grabbed the spotlight this day.

Davis told of how he once stole from a battered women’s charity to cover half of a $200,000 gambling debt owed to the Cosmopolitan hotel in Vegas.

He also admitted to paying for sex with prostitutes to the tune of $2000 to $3000 while in Vegas.

Phone records also indicated that Davis had patronized various escort services while on four business trips to Chicago, San Francisco, New York and Colorado.  He had previously denied using such services.  Walters attorneys looked to discredit Davis’ testimony, citing the previous falsehoods.

The trial continues Thursday.

- Jagajeet Chiba, Gambling911.com

Gambling News

Can I Bet With BetOnline From Missouri

Can I Bet With BetOnline From Missouri

Missouri residents and visitors alike are more than welcome to place bets on the BetOnline website.  They have proudly served the US and worldwide market since 1999.  In fact, we here at Gambling911.com were one of the first to visit their office when they first set up that year.  BetOnline offers a generous welcome bonus and plenty of contests (max bonus $1000)

Can I Bet With MyBookie.ag From Indiana?

Can I Bet With MyBookie.ag From Indiana?

Indiana is set to begin offering mobile betting via in-state licensed apps, though diehard sports bettors regard the overseas sportsbooks as the crème de la crème. 

Can I Place a Bet on the FanDuel App From California

Can I Place a Bet on the FanDuel App From California

The new FanDuel sports betting app is available to those living in the state of California but only internationally-licensed websites are accessible for real money bets from within the state. 

BetMGM Becomes Las Vegas Raiders' Official Sports Betting Partner

BetMGM Becomes Las Vegas Raiders' Official Sports Betting Partner

Partnerships between pro sports teams in the United States and sports betting providers are becoming more and more common as the activity continues to grow in the country. The latest team to partner with a sports betting platform is the Las Vegas Raiders.

How a Pandemic Changed the US Gambling Market

The COVID-19 pandemic has disrupted nearly every aspect of human life all around the world, and it was not surprising that the gambling industry was not spared. It goes without saying that the activity is enjoyed by millions of people all around the world and since it heavily relies on social interactions to a given extent, the lockdowns and social distancing measures would make it much harder for everything to proceed normally.