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Las Vegas gambler Walters gets five years prison for insider trading
Source: Reuters
#U.S.
JULY 27, 2017 / 12:58 PM / AN HOUR AGO
Las Vegas gambler Walters gets five years prison for insider trading
Jonathan Stempel
NEW YORK (Reuters) - Famed Las Vegas sports gambler William "Billy" Walters was sentenced on Thursday to five years in prison, following his April conviction in one of the highest profile U.S. insider trading trials in years.
Walters, 71, stood silently as U.S. District Judge Kevin Castel in Manhattan pronounced the sentence.
Federal prosecutors said Walters made more than $43 million in profits and avoided losses from 2008 to 2014 based on stock tips mainly about Dean Foods Co from Thomas Davis, a former chairman of the dairy processing company.
The case has drawn more attention because of Walters' dealings with billionaire investor Carl Icahn and champion golfer Phil Mickelson.
Neither was charged with wrongdoing.
-snip-
JULY 27, 2017 / 12:58 PM / AN HOUR AGO
Las Vegas gambler Walters gets five years prison for insider trading
Jonathan Stempel
NEW YORK (Reuters) - Famed Las Vegas sports gambler William "Billy" Walters was sentenced on Thursday to five years in prison, following his April conviction in one of the highest profile U.S. insider trading trials in years.
Walters, 71, stood silently as U.S. District Judge Kevin Castel in Manhattan pronounced the sentence.
Federal prosecutors said Walters made more than $43 million in profits and avoided losses from 2008 to 2014 based on stock tips mainly about Dean Foods Co from Thomas Davis, a former chairman of the dairy processing company.
The case has drawn more attention because of Walters' dealings with billionaire investor Carl Icahn and champion golfer Phil Mickelson.
Neither was charged with wrongdoing.
-snip-
Read more: http://www.reuters.com/article/us-usa-insidertrading-walters-idUSKBN1AC2OM
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