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Phil Mickelson: Champion golfer charged with insider trading by US Securities and Exchange Commission Phil Mickelson: Champion golfer charged with insider trading by US Securities and Exchange Commission
(about 1 hour later)
The golfer Phil Mickelson has been accused by the US Securities and Exchange Commission of benefittig from insider trading.  The golfer Phil Mickelson has been accused by the US Securities and Exchange Commission of benefitting from insider trading. 
The complaint filed by the SEC in US District Court for the Southern District of New York, named Mr Mickelson among several defendants. Since the case is in civil court, the SEC seeks “all ill-gotten gains in the form of illicit trading profits.” The complaint, filed by the SEC in the US District Court for the Southern District of New York, named Mr Mickelson among several defendants. Since the case is in civil court, the SEC seeks “all ill-gotten gains in the form of illicit trading profits.”
The lawsuit charged a former chairman of Dean Foods Co and a professional Las Vegas gambler with engaging in a years-long insider trading scheme, which included a tip that benefited the professional golfer, Reuters said.The lawsuit charged a former chairman of Dean Foods Co and a professional Las Vegas gambler with engaging in a years-long insider trading scheme, which included a tip that benefited the professional golfer, Reuters said.
William “Billy” Walters, who has built a multimillion-dollar fortune as a famed Las Vegas sports bettor, and Thomas Davis, Dean Food's former chairman, were both criminally charged.William “Billy” Walters, who has built a multimillion-dollar fortune as a famed Las Vegas sports bettor, and Thomas Davis, Dean Food's former chairman, were both criminally charged.
Mr Mickelson, who has won three Masters golf titles, was not criminally charged, but was named as a relief defendant in a civil lawsuit, which said he also traded in Dean Foods stock.Mr Mickelson, who has won three Masters golf titles, was not criminally charged, but was named as a relief defendant in a civil lawsuit, which said he also traded in Dean Foods stock.
A relief defendant is not accused of wrongdoing but has received ill-gotten gains as a result of others' illegal acts. A relief defendant is not accused of wrongdoing but has received ill-gotten gains as a result of the illegal acts of others.
Mr Walters, 69, was arrested in Las Vegas on Tuesday. Mr Davis, who resigned from Dean Food's board in August, pleaded guilty on Monday.Mr Walters, 69, was arrested in Las Vegas on Tuesday. Mr Davis, who resigned from Dean Food's board in August, pleaded guilty on Monday.