Phil Mickelson, Carl Icahn Face Trading Probe
Sports bettor Billy Walters also caught up in investigation
By Matt Cantor, Newser User
Posted May 31, 2014 5:15 PM CDT
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)

(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."

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Showing 3 of 22 comments
Lefty_Libby
Jun 1, 2014 6:42 PM CDT
Mickelson is 42 years old. His fame and fortune arise from playing golf. He pays 50%taxes on his earnings, which run close to $50 million per year. His net worth is $180 million. Like other wealthy people, Mickelson can cut his taxes by investing his $25 million net in stocks, bonds, collectibles, commodities and real estate. Those investments will substantially cut his tax losses to shreds, while increasing profits. He can also open businesses, and try his hand at that. Quit your whining, Phil. If you can't make a go of it on $25 million a year, you're an idiot.
BCS
Jun 1, 2014 5:04 PM CDT
These guys should have know that insider trading is only legal for senators, members of congress, and other select members of government. Yeah, they actually passed a law that legalizes it for themselves. See there is bipartisan cooperation in Washington.
Lefty_Libby
Jun 1, 2014 3:51 PM CDT
How can Icahn be a market genius, then say he never heard of Mickelson? Market people read and know a little about everything. I hate sports, especially golf. Mickelson is as famous as a Kardashian.