Billionaire investor Carl Icahn dragged into Las Vegas gamblers insider trading trial

[TexasTowelie]

Carl Icahn, a billionaire investor and an unpaid adviser to President Donald Trump, has been pulled into a high-profile insider trading trial taking place in federal court in Manhattan.

The Las Vegas sports gambling kingpin William T. Walters is charged with using nonpublic information while trading shares of Dean Foods, one of the country’s largest dairy processors. The case has already brought down the former chairman of Dean Foods and drawn in the professional golfer Phil Mickelson.

Now prosecutors are pressing the judge to permit new evidence of potentially improper trading in shares of Clorox by Walters. The prosecutors allege that Walters could have made profitable trades in Clorox stock in 2011 based on tips he might have received from Icahn, his friend.

Walters is on trial in federal court in one of the biggest criminal insider trading cases in years. He has been charged with pocketing profits and avoiding losses of more than $40 million in shares of Dean Foods. He stands accused of securing inside information from Thomas C. Davis, then the chairman of Dean Foods, who is now a key cooperating witness in the case.

Read more: https://lasvegassun.com/news/2017/mar/28/billionaire-investor-carl-ichan-draged-into-las-ve/

[shraby]

1. Couldn't happen to nicer people. Maybe they all spend a few years in a cell and

give up their ill-gotten gains.