Sports Gambler Sentenced to Prison for Insider Trading
A Las Vegas gambler linked to golfer Phil Mickelson was sentenced Thursday to five years in prison on insider trading charges. "When it comes to the stock market, Billy Walters is a cheater and a criminal and not a very clever one," Southern District Judge P. Kevin Castel said.
July 27, 2017 at 04:05 PM
2 minute read
A Las Vegas gambler linked to golfer Phil Mickelson was sentenced Thursday to five years in prison on insider trading charges.
Southern District Judge P. Kevin Castel rejected a recommendation that William “Billy” Walters serve only a year in prison, but imposed a sentence less than the eight-year minimum called for by federal sentencing guidelines. He also fined him $10 million.
“When it comes to the stock market, Billy Walters is a cheater and a criminal and not a very clever one,” Castel said.
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