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Gambler says he wasn't involved in inside trading

By Associated Press

POSTED:



LAS VEGAS >> A Las Vegas gambler being investigated for possible insider trading involving golfer Phil Mickelson and investor Carl Icahn says it's "preposterous to think" he would be involved in any such activity.

Billy Walters issued a statement Monday saying he has never made inside stock market trades.

"I am innocent of doing anything wrong. It's that simple," Walters said. "Those who know me best, know that it is preposterous to think that it would involve myself in inside trading."

A federal official briefed on the investigation told The Associated Press the FBI and Securities and Exchange Commission are analyzing trades Mickelson and Walters made involving Clorox at the same time Icahn was attempting to take over the company. When Icahn's intent became public, the stock price jumped.

FBI agents approached Mickelson after his opening round last week at the Memorial golf tournament as part of the investigation. Mickelson later said he had done "absolutely nothing wrong."

Walters, a legendary figure in sports betting circles because of the millions he has won betting on games, said all of his dealings in the stock market are legitimate.

"Yes, I have studied and invested in the stock market for many years and no one says anything when I lost money or when I am not successful," he said in the statement. "And certainly that's happened, like it has to many of us."






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Anonymous wrote:
Spit it out Billy, you know you did it!!!!!!!!
on June 2,2014 | 12:55PM
Anonymous wrote:
No one will ever admit to any wrongdoing!!!!!!!! Especially Billy Walters!!!!!!!!
on June 2,2014 | 12:56PM
DAGR81 wrote:
His income is totally dependent on insider tips.
on June 2,2014 | 01:54PM
808mobile wrote:
Hmm so both the golfer and the gambler just happened to be sitting on Clorex when the Icahn news became public? That is some coincidence.
on June 2,2014 | 03:10PM
usahwn wrote:
I did nothing wrong. Catch me if you can. Innocent until proven guilty.
on June 2,2014 | 07:20PM
KaneoheSJ wrote:
On a side note, did you know that Congressmen are exempt from the insider trading laws? Yes, they exempted themselves. So, they can actually do what this man is alleged to have been doing.
on June 2,2014 | 09:04PM
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