Golfer Phil Mickelson named in insider trading complaint


FILE - In this May 29, 2014, file photo, Phil Mickelson reacts after making double bogey on the 17th hole during the first round of the Memorial golf tournament in Dublin, Ohio. The Securities And Exchange Commission is filing a complaint against Mickelson related to insider trading. The SEC says in 2012, high-profile sports bettor Billy Walters called Mickelson, who owed him money, and urged him to trade Dean Foods stock. The SEC says Mickelson did so the next day and made a profit of $931,000. The SEC says Walters received tips and business information about Dean Foods Co. from former Dean Foods director Thomas Davis between 2008 and 2012. (AP Photo/Jay LaPrete, File)


FILE - In this June 12, 2014, file photo, Phil Mickelson, right, reacts to his tee shot on the eighth hole during the first round of the U.S. Open golf tournament in Pinehurst, N.C. The Securities And Exchange Commission is filing a complaint against Mickelson related to insider trading. The SEC says, in 2012 high-profile sports bettor Billy Walters called Mickelson, who owed him money, and urged him to trade Dean Foods stock. The SEC says Mickelson did so the next day and made a profit of $931,000. The SEC says Walters received tips and business information about Dean Foods Co. from former Dean Foods director Thomas Davis between 2008 and 2012. (AP Photo/Matt York, File)


FILE - In this May 7, 2016, file photo, Phil Mickelson reacts as he misses a putt on the third hole during the third round of the Wells Fargo Championship golf tournament at Quail Hollow Club in Charlotte, N.C. The Securities And Exchange Commission is filing a complaint against Mickelson related to insider trading. The SEC says, in 2012 high-profile sports bettor Billy Walters called Mickelson, who owed him money, and urged him to trade Dean Foods stock. The SEC says Mickelson did so the next day and made a profit of $931,000. The SEC says Walters received tips and business information about Dean Foods Co. from former Dean Foods director Thomas Davis between 2008 and 2012. (AP Photo/Chuck Burton, File)


WASHINGTON (AP) — The Securities and Exchange Commission has sued professional golfer Phil Mickelson, saying he profited from an insider trading scheme conducted by a former corporate director and a professional gambler.

The SEC also alleged in its civil suit filed Thursday that a gambler named William Walters received tips and business information about Dean Foods Co. from former Dean Foods director Thomas Davis between 2008 and 2012.

In 2012, the SEC says, Walters called Mickelson, who owed him money, and urged him to trade Dean Foods stock. The SEC says Mickelson did so the next day and made a profit of $931,000.

As a relief defendant, Mickelson is not accused of participating in insider trading, only of receiving money as a result of the scheme.

In May 2014, Mickelson confirmed that FBI agents investigating insider trading questioned him as he finished playing a round at the Memorial Tournament in Dublin, Ohio.

Mickelson wouldn’t discuss details about his relationship with Walters, a multimillionaire who owns several golf courses and auto dealerships. He wouldn’t talk about stock tips he received, but reiterated that he did nothing wrong.

“And that’s why I’ve been fully cooperating with the FBI agents, and I’m happy to do in the future, too, until this gets resolved,” he said two years ago.

Mickelson, 45, was inducted into the World Golf Hall of Fame in 2011. He has won 42 tour events, including five majors — three Masters, one PGA Championship and one British Open.

Mickelson has long had a reputation for being a gambler, though he has said he scaled back his habit after his son, Evan, was born in 2003. The most publicized payoff was when Mickelson and friends won $560,000 on a preseason bet (28-1 odds) that the Baltimore Ravens would win the 2001 Super Bowl.

He has a history of playing money games during the practice rounds. He occasionally gets a group of players and caddies together for dinner and small wagering during the NBA and NHL playoffs, and prominent fights.

A spokesman for Dean Foods, based in Dallas, said Davis resigned from the company’s board of directors last year and is no longer affiliated with the company. Dean Foods said it is cooperating with the government investigation.

FILE – In this May 29, 2014, file photo, Phil Mickelson reacts after making double bogey on the 17th hole during the first round of the Memorial golf tournament in Dublin, Ohio. The Securities And Exchange Commission is filing a complaint against Mickelson related to insider trading. The SEC says in 2012, high-profile sports bettor Billy Walters called Mickelson, who owed him money, and urged him to trade Dean Foods stock. The SEC says Mickelson did so the next day and made a profit of $931,000. The SEC says Walters received tips and business information about Dean Foods Co. from former Dean Foods director Thomas Davis between 2008 and 2012. (AP Photo/Jay LaPrete, File)
http://wnewsj.com/wp-content/uploads/2016/05/web1_110422355-78df982a770542b180b0b808994b44d6.jpgFILE – In this May 29, 2014, file photo, Phil Mickelson reacts after making double bogey on the 17th hole during the first round of the Memorial golf tournament in Dublin, Ohio. The Securities And Exchange Commission is filing a complaint against Mickelson related to insider trading. The SEC says in 2012, high-profile sports bettor Billy Walters called Mickelson, who owed him money, and urged him to trade Dean Foods stock. The SEC says Mickelson did so the next day and made a profit of $931,000. The SEC says Walters received tips and business information about Dean Foods Co. from former Dean Foods director Thomas Davis between 2008 and 2012. (AP Photo/Jay LaPrete, File)

FILE – In this June 12, 2014, file photo, Phil Mickelson, right, reacts to his tee shot on the eighth hole during the first round of the U.S. Open golf tournament in Pinehurst, N.C. The Securities And Exchange Commission is filing a complaint against Mickelson related to insider trading. The SEC says, in 2012 high-profile sports bettor Billy Walters called Mickelson, who owed him money, and urged him to trade Dean Foods stock. The SEC says Mickelson did so the next day and made a profit of $931,000. The SEC says Walters received tips and business information about Dean Foods Co. from former Dean Foods director Thomas Davis between 2008 and 2012. (AP Photo/Matt York, File)
http://wnewsj.com/wp-content/uploads/2016/05/web1_110422355-26ef8874dded4a5387ca3e9acfe81b85.jpgFILE – In this June 12, 2014, file photo, Phil Mickelson, right, reacts to his tee shot on the eighth hole during the first round of the U.S. Open golf tournament in Pinehurst, N.C. The Securities And Exchange Commission is filing a complaint against Mickelson related to insider trading. The SEC says, in 2012 high-profile sports bettor Billy Walters called Mickelson, who owed him money, and urged him to trade Dean Foods stock. The SEC says Mickelson did so the next day and made a profit of $931,000. The SEC says Walters received tips and business information about Dean Foods Co. from former Dean Foods director Thomas Davis between 2008 and 2012. (AP Photo/Matt York, File)

FILE – In this May 7, 2016, file photo, Phil Mickelson reacts as he misses a putt on the third hole during the third round of the Wells Fargo Championship golf tournament at Quail Hollow Club in Charlotte, N.C. The Securities And Exchange Commission is filing a complaint against Mickelson related to insider trading. The SEC says, in 2012 high-profile sports bettor Billy Walters called Mickelson, who owed him money, and urged him to trade Dean Foods stock. The SEC says Mickelson did so the next day and made a profit of $931,000. The SEC says Walters received tips and business information about Dean Foods Co. from former Dean Foods director Thomas Davis between 2008 and 2012. (AP Photo/Chuck Burton, File)
http://wnewsj.com/wp-content/uploads/2016/05/web1_110422355-d4915970ac5340d9b7a64f135b49f2a6.jpgFILE – In this May 7, 2016, file photo, Phil Mickelson reacts as he misses a putt on the third hole during the third round of the Wells Fargo Championship golf tournament at Quail Hollow Club in Charlotte, N.C. The Securities And Exchange Commission is filing a complaint against Mickelson related to insider trading. The SEC says, in 2012 high-profile sports bettor Billy Walters called Mickelson, who owed him money, and urged him to trade Dean Foods stock. The SEC says Mickelson did so the next day and made a profit of $931,000. The SEC says Walters received tips and business information about Dean Foods Co. from former Dean Foods director Thomas Davis between 2008 and 2012. (AP Photo/Chuck Burton, File)
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