Phil Mickelson is used to paying off gambling debts, but Im not sure hes used to them being this exorbitant. <\/p>\n
Mickelson, who was tied to Vegas businessman William Billy Walters because of a Dean Foods stock tip he hit on before giving back the nearly $1 million he earned off the transaction , apparently also owed Walters a separate $2 million. Walters is on trial right now for securities fraud. <\/p>\n
Here is David Purdum of ESPN. <\/p>\n
According to transcripts of Thursdays proceedings, the prosecution told the court that an independent business management firm, if called to testify, would say Mickelson was a client and that records show that in July 2012 Mickelson owed a debt to William T. Walters, the defendant, related to sports gambling. The prosecution added that on Sept. 19, 2012, Mickelson transferred $1,950,000 to Walters. <\/p>\n
There was previous speculation that Mickelson hit on the insider trading stock tip with Dean Foods in July 2012 in part to pay back some of the $2 million in debt to Walters, and that is starting to look more plausible. Mickelson later gave the nearly $1 million from the Dean Foods transaction back to the SEC, though, and was not criminally charged. <\/p>\n
Mickelson did not say anything when asked on Friday. <\/p>\n
None of this is much of a surprise. Mickelson loves to gamble and knows other people who love to gamble. All of this did lead to one of the great tweets of the year, though. <\/p>\n
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Phil Mickelson paid Vegas businessman nearly $2 million gambling debt - CBSSports.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Phil Mickelson is used to paying off gambling debts, but Im not sure hes used to them being this exorbitant. Continue reading