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RockaFowler

(7,429 posts)
Thu May 19, 2016, 10:48 AM May 2016

Golfer Phil Mickelson profited from Dean Foods insider trades, SEC says

Awwww - poor Phil. Such a douchebag anyway

http://www.marketwatch.com/story/phil-mickelson-charged-with-insider-trading-by-the-sec-2016-05-19?mod=mw_share_twitter

Golfer Phil Mickelson on Thursday was accused of insider trading in connection with a case where two others are facing criminal charges.

Mickelson said by the Securities and Exchange Commission to have used an alleged tip he received from gambler William “Billy” Walters, who got information from a former Dean Foods DF, +0.45% chairman, Thomas Davis.

The SEC said that Walters called and then sent text messages to Mickelson, who ultimately bought a $2.4 million position in three accounts he controlled. Those securities “dwarfed” Mickelson’s other holdings, which were collectively valued at less than $250,000, the SEC said. Mickelson had not been a frequent trader, and these were his first Dean Foods purchases, the SEC said. Mickelson made a profit of approximately $931,000 from the stock, which he held for about a week.

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Golfer Phil Mickelson profited from Dean Foods insider trades, SEC says (Original Post) RockaFowler May 2016 OP
I hope this gets every bit as much scrutiny by the SEC as the Marth Stewart case did. n/t hughee99 May 2016 #1
I want more scrutiny.... joeybee12 May 2016 #2
Well, she did go to jail on lesser charges when they couldnt get her on what they wanted. hughee99 May 2016 #3
He Is Paying Back The Gain, Plus Interest ProfessorGAC May 2016 #4
Jeez, did they apologize to Phil for all the trouble too? hughee99 May 2016 #5
You Betcha, Hughee! ProfessorGAC May 2016 #6
Martha was a sacrificial lamb who conveniently hughee99 May 2016 #7
Yeah, That's Probably Right! ProfessorGAC May 2016 #8
 

joeybee12

(56,177 posts)
2. I want more scrutiny....
Thu May 19, 2016, 02:51 PM
May 2016

They couldn't find anything wrong on Martha, so they got her on misleading/perjury...the venom in which they went after her was disgusting. Moral of the story, don't cooperate, because they'll use your words against you.

hughee99

(16,113 posts)
3. Well, she did go to jail on lesser charges when they couldnt get her on what they wanted.
Fri May 20, 2016, 12:25 AM
May 2016

I don't see how they could have done any more to go after her than this. If they catch Phil in the act, send him to jail. If they catch him lying to cover his ass, send him to jail. If they try to make their case and fail, even that is something.

My fear is that Phil is "old golfing buddies" with someone with the kind of clout to make this fade off into nothingness.

ProfessorGAC

(64,413 posts)
4. He Is Paying Back The Gain, Plus Interest
Mon May 23, 2016, 11:12 AM
May 2016

That's it! No fine. No trial. Just give it back with interest!

Slimy twit essentially got away with it. No punishment other than giving back money he never should have made.

hughee99

(16,113 posts)
5. Jeez, did they apologize to Phil for all the trouble too?
Mon May 23, 2016, 12:22 PM
May 2016

This is exactly why people have no faith in the justice system, particularly when it comes to the wealthy and wall street.

ProfessorGAC

(64,413 posts)
6. You Betcha, Hughee!
Mon May 23, 2016, 04:03 PM
May 2016

But, then the Martha Stewart thing. Not sure how that worked. Phil gets nothing and Martha get jail? An uppity woman thing? Putting her in her place or something?

Meantime, Fraudulent Phil skates.

hughee99

(16,113 posts)
7. Martha was a sacrificial lamb who conveniently
Mon May 23, 2016, 09:10 PM
May 2016

Distracted everyone at a time when people were pissed that all the Wall Street execs got off Scott free. Her prosecution was just to give the appearance that the SEC was doing their job, without actually going after their own buddies.

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