The Securities and Exchange Commission wants Phil Mickelson to repay nearly $1 million he allegedly made as a result of insider trading but has not criminally charged the golfer, according to a complaint filed Thursday in federal court. ADVERTISING The
The Securities and Exchange Commission wants Phil Mickelson to repay nearly $1 million he allegedly made as a result of insider trading but has not criminally charged the golfer, according to a complaint filed Thursday in federal court.
Mickelson is named as a “relief defendant” in the U.S. District Court case involving sports gambler Billy Walters and Thomas Davis, the former chairman of Dean Foods Co.
According to the complaint, Walters began receiving inside tips from Davis in 2008. Davis allegedly gave him advance notice regarding the company’s upcoming quarterly earnings and a profitable spinoff — information that could be used to buy and sell company stock at a profit.
Authorities say the defendants would sometimes converse in code, referring to Dean Foods by the name “Dallas Cowboys.”
In late July 2012, Walters allegedly placed a telephone call to Mickelson, urging him to trade in company stock.
