Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

FBI, SEC Probe Trading of Carl Icahn, Billy Walters, Phil Mickelson
The Wall Street Journal ^ | May 30, 2014 | Susan Pulliam and Michael Rothfeld

Posted on 05/30/2014 5:45:23 PM PDT by John W

Federal investigators are pursuing a major insider-trading probe involving finance, gambling and sports, examining the trading of investor Carl Icahn, golfer Phil Mickelson and Las Vegas bettor William "Billy" Walters.

The Federal Bureau of Investigation and the Securities and Exchange Commission are examining whether Mr. Mickelson and Mr. Walters traded illicitly on nonpublic information from Mr. Icahn about his investments in public companies, people briefed on the probe said.

Investigators are examining whether over the past three years Mr. Icahn tipped Mr. Walters—famous in Las Vegas for his sports-betting acumen—about potentially market-moving investments by Mr. Icahn's company.

The FBI and SEC are examining whether Mr. Walters on at least one occasion passed a tip on to Mr. Mickelson, these people said, and are studying the two men's trading patterns.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS:

1 posted on 05/30/2014 5:45:23 PM PDT by John W
[ Post Reply | Private Reply | View Replies]

To: John W

Phil? Say it ain’t so!


2 posted on 05/30/2014 5:48:21 PM PDT by doc1019
[ Post Reply | Private Reply | To 1 | View Replies]

To: John W

Oh somebody else to shakedown.


3 posted on 05/30/2014 5:51:04 PM PDT by Lurkina.n.Learnin
[ Post Reply | Private Reply | To 1 | View Replies]

To: Lurkina.n.Learnin
Wasn't it Mickelson who made the comments about California taxes? If so, it's just too convenient that he winds up getting investigated.
4 posted on 05/30/2014 5:55:22 PM PDT by pieceofthepuzzle
[ Post Reply | Private Reply | To 3 | View Replies]

To: pieceofthepuzzle

Move to Florida and stay away from professional gamblers Phil. I’m sure Jack could scare up a nice lot for him at the Bear’s Club.


5 posted on 05/30/2014 5:56:53 PM PDT by FlJoePa ("Success without honor is an unseasoned dish; it will satisfy your hunger, but it won't taste good")
[ Post Reply | Private Reply | To 4 | View Replies]

To: pieceofthepuzzle

Wouldn’t be surprised if an IRS audit is forth coming.

God I hate this corrupt government. HATE IT.


6 posted on 05/30/2014 6:07:55 PM PDT by unixfox (Abolish Slavery, Repeal the 16th Amendment)
[ Post Reply | Private Reply | To 4 | View Replies]

To: John W
What? What? Insider trading?
I'm sure the US Congress is really concerned about that.
Along with the creeps in White Hut and the DOJ.
7 posted on 05/30/2014 6:08:10 PM PDT by StormEye
[ Post Reply | Private Reply | To 1 | View Replies]

To: StormEye

You beat me to it - somehow it’s OK for congress to trade on insider info, or worse, laws they’re creating.


8 posted on 05/30/2014 6:14:09 PM PDT by uncommonsense (Liberals see what they believe; Conservatives believe what they see.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: pieceofthepuzzle
August 2013:

"If you add up all the federal and you look at the disability and the unemployment and the Social Security and the state, my tax rate's 62, 63 percent," Mickelson said. "So I've got to make some decisions on what I'm going to do."

Last November, California voters approved of Proposition 30, which raised the state tax rate for those making more than $250,000. Californians who make over $1 million will now be hit with a 13.3% top tax rate, which is the highest of any state. Previously, those making over $1 million in California were hit with a 10.3% tax rate. Those making $250,000 to $300,000 a year will pay 10.3%, which is up from 9.3%.

Big gubmint don't be likin that kind of talk....

9 posted on 05/30/2014 6:14:15 PM PDT by capydick (''Life's tough.......it's even tougher if you're stupid.'')
[ Post Reply | Private Reply | To 4 | View Replies]

To: John W

NSA?


10 posted on 05/30/2014 6:18:03 PM PDT by E. Pluribus Unum ("The more numerous the laws, the more corrupt the government." --Tacitus)
[ Post Reply | Private Reply | To 1 | View Replies]

To: John W

Hmmm....Didn’t Phil make some anti-tax statements a few years back? Shades of Dinesh???


11 posted on 05/30/2014 6:30:58 PM PDT by rhinohunter (Freepers aren't booing -- they're yelling "Cruuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuz")
[ Post Reply | Private Reply | To 1 | View Replies]

To: John W

Congress hates the competition


12 posted on 05/30/2014 7:15:37 PM PDT by VTenigma (The Democratic party is the party of the mathematically challenged)
[ Post Reply | Private Reply | To 1 | View Replies]

To: John W

And in the meantime, the prosecution of John Corzine is????????


13 posted on 05/30/2014 7:36:57 PM PDT by biff (WAS)
[ Post Reply | Private Reply | To 1 | View Replies]

To: John W

“Insider trading” is one of those “crimes” that I’ve never understood. It just sounds like a logical extension of what every investor is trying to do, i.e., make decisions based on the best information available.


14 posted on 05/30/2014 8:19:11 PM PDT by Steve_Seattle
[ Post Reply | Private Reply | To 1 | View Replies]

To: pieceofthepuzzle

I was just thinkin’ the same thing....shakedown.


15 posted on 05/30/2014 8:20:02 PM PDT by Jane Long ("And when thou saidst, Seek ye my face; my heart said unto thee, Thy face, LORD, will I seek")
[ Post Reply | Private Reply | To 4 | View Replies]

To: biff

And in the meantime, the prosecution of John Corzine is????????

^^^^ THIS ^^^^


16 posted on 05/30/2014 9:40:14 PM PDT by Hogblog
[ Post Reply | Private Reply | To 13 | View Replies]

To: John W; All

I guess this is safer than looking to investigate bankers, race baiters, the IRS, or the state Department


17 posted on 05/30/2014 9:48:59 PM PDT by Nifster
[ Post Reply | Private Reply | To 1 | View Replies]

To: John W
Phil is a self employed professional, a devout Christian and family man, provided the Phil and Amy Michelson foundation and dared to protest the high taxes in California.

IT is only proper that he be destroyed. He is obviously a menace to society.

18 posted on 05/31/2014 8:51:00 AM PDT by Tula Git (There IS a coup in America and it's on track and almost complete.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

this has retribution written all over it.


19 posted on 05/31/2014 11:40:46 AM PDT by newnhdad (Our new motto: USA, it was fun while it lasted.)
[ Post Reply | Private Reply | To 18 | View Replies]

To: John W

This is 100% BS!

Phil is being spanked for speaking out on our outrageous tax structure.

There is absolutely no reason for any insider trading; if Icahn wants to reward Phil, all he has to do is give him a sponsorship, which is perfectly legal.


20 posted on 05/31/2014 3:38:03 PM PDT by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
[ Post Reply | Private Reply | To 1 | View Replies]

To: pieceofthepuzzle

>> “it’s just too convenient that he winds up getting investigated.” <<

.
Precisely!
.


21 posted on 05/31/2014 3:38:52 PM PDT by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Tula Git

Anyone that is a clear thinker is a menace to the Obama syndicate.


22 posted on 05/31/2014 3:43:18 PM PDT by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
[ Post Reply | Private Reply | To 18 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson