Phil Mickelson responds to insider trading allegations
Phil Mickelson is apparently under investigation by the FBI and SEC about insider trading involving the companies Dean Foods and Clorox.
Phil Mickelson responded early Saturday morning to the apparent FBI and SEC investigation that is ongoing involving him, a Las Vegas bettor named Billy Walters, and investment trader Cari Icahn.
It was pretty tame for Mickelson standards.
"I have done absolutely nothing wrong. I have cooperated with the government in this investigation and will continue to do so. I wish I could fully discuss this matter, but under the current circumstances, it's just not possibe."
It's not possible because there are likely more lawyers involved than golfers trying to get into the US Open (over 10,000, by the way) and Mickelson doesn't want to disrupt their work.
The New York Times has a really good explanation of everything that's going on with the case. According to their piece Mickelson and Walters have made some fortuitous stock trades at around the same time period involving two separate companies.
One involved Clorox, which Icahn's company (this is where he comes in) made a bid for which drove the stock price up. The other involved Dean Foods which Icahn had nothing to do with.
I'm pretty fascinated to see where all of this goes but if I'm reading between the lines correctly it doesn't seem like the FBI or SEC has a ton to go on at the moment.
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