A Las Vegas gambler linked to golfer Phil Mickelson has been found guilty of insider trading charges.
The verdict Friday capped a three-week trial in federal court in New York City for William “Billy” Walters.
The 70-year-old sports gambler was convicted by a jury that deliberated over two days. Mickelson never testified though he had been on a list of prospective witnesses. Sentencing was set for July.
A prosecutor had said Mickelson earned nearly $1 million after Walters told him to buy Dean Foods stock in 2012. The Securities and Exchange Commission cited Mickelson in a lawsuit and Mickelson agreed to repay it.
Walters was convicted of earning over $40 million illegally.
Mickelson wasn’t charged.