Phil Mickelson, Carl Icahn Face Trading Probe

Sports bettor Billy Walters also caught up in investigation

By Matt Cantor,  Newser Staff

Posted May 31, 2014 5:15 PM CDT

(Newser) – An unusual trio of public figures is raising federal eyebrows in an insider-trading investigation. The FBI and SEC are looking into whether billionaire investor Carl Icahn might have passed information to Billy Walters, an expert bettor on sports, the Wall Street Journal reports. Officials wonder if, in turn, Walters may have handed information to Phil Mickelson, the champion golfer. Walters and Mickelson are golfing buddies, the Journal notes.

A focus of the investigation is trading on Clorox stock, the New York Times reports. Both Mickelson and Walters are said to have traded in Clorox in 2011. The probe wants to find out whether Icahn improperly revealed a takeover bid to Walters. Icahn tells the Journal he's not aware of a probe and he doesn't know who Mickelson is. The golfer says he's done nothing wrong and is cooperating with officials. A lawyer says Mickelson is "not the target of any investigation. Period."

Phil Mickelson listens to a question during a news conference following the third round of the Memorial golf tournament Saturday, May 31, 2014, in Dublin, Ohio.
Phil Mickelson listens to a question during a news conference following the third round of the Memorial golf tournament Saturday, May 31, 2014, in Dublin, Ohio.   (AP Photo/Darron Cummings)
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