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Golf’s Mickelson in Deep Water Over Stock Deal

Professional golfer Phil Mickelson allegedly paid off debt to a professional gambler with money netted from an insider trading scheme, according to a federal investigation. So reports the Associated Press.

Mickelson is said to have paid nearly $1 million he owed to William Walters with money he made from trading stock of the “Dallas-based distributor of Land O Lakes butter and other dairy products” after being urged to do so by Walters.

Mickelson was not charged with a crime, but Walters and a former board member of Dean Foods Co., Thomas Davis, were both charged. Mickelson will repay the $931,000 he made from the stock transaction.

The Securities and Exchange Commission and U.S. Attorney Preet Bharara announced separate charges alleging Walters and Davis used non-public information to “make tens of millions of dollars in illicit stock trades between 2008 and 2012,” according to the story.

Mickelson may face disciplinary action from the Professional Golf Association, but its proceedings are not public.

Read the full article from the Associated Press.

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