Professional Sports Bettor Billy Walters Ordered to Forfeit $25.4 Million

Written by :

Guest

Published on :

24 September, 2017

Professional Sports Bettor Billy Walters Ordered to Forfeit $25.4 Million

Following his prison sentence after being found guilty of insider trading, professional sports bettor and golf course developer Billy Walters has now been ordered to forfeit $25.4 million, money that was traced to his “illegal insider-trading gains”.

Walters, 71, was convicted in April of trading on illicit tips he got from his golf buddy, former Dean Foods Co. Chairman Tom Davis. While professional golfer Phil Mickelson was named as a “figure of interest” in the case, no charges were ever brought against him.

Walters is to report to prison on October 10. He was sentenced to a five-year prison term.

- Gilbert Horowitz, Gambling911.com

Related Content

Omaha Nebraska Youth Baseball Organizer in Custody: Faces Theft Charges, Funds Allegedly Used to Fuel Gambling Problem

Omaha Nebraska Youth Baseball Organizer in Custody: Faces Theft Charges, Funds Allegedly Used to Fuel Gambling Problem

Sam Leng faces a theft by deception charge after families from the Omaha Nighthawks youth baseball team raised concerns in February. The Douglas County Sheriff's Office filed the charges against Leng late last week.

Two Men Wanted for Swindling MGM Springfield Massachusetts Casino

Two Men Wanted for Swindling MGM Springfield Massachusetts Casino

New York resident Gonzalo Capellan and co-defendant Ruddy Iglesia, of New Jersey are both accused of swindling the MGM Springfield Casino in Massachusetts.

Man Sentenced to 20 Years for Armed Robbery of Eastern Oregon Casino

Man Sentenced to 20 Years for Armed Robbery of Eastern Oregon Casino, Shooting Cop

According to court documents, on August 17, 2022, Vigil entered the Wildhorse Casino, walked straight to the cashier cage in the gaming area, and handed the cashier a note demanding $1 million.

3 Arrested Following Armed Robbery of Seminole Hard Rock Casino Tampa Patron

3 Arrested Following Armed Robbery of Seminole Hard Rock Casino Tampa Patron

The Hillsborough County Sheriff’s Office announced the arrests of three individuals suspected in an armed robbery of an individual returning from the Seminole Hard Rock Casino in Tampa on July 23.