Prosecutor Asks Jury to Find Billy Walters Guilty in Insider Trading Trial

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5 April, 2017

Prosecutor Asks Jury to Find Billy Walters Guilty in Insider Trading Trial

Closing arguments in the trial of professional sports bettor Billy Walters had the prosecutor asking the New York jury to find him guilty of earning tens of millions of dollars illegally in the stock market.

Walters is accused of obtaining insider trading tips about dairy processing company Dean Foods. He has pleaded not guilty.

Prosecutors say trading and phone records back up the testimony of a former Dean Foods Co. board member who said he gave secrets to Walters.

Golfer Phil Mickelson was also named in the indictment but not charged with any crime. Last week, Walters said he would refuse to testify.

The Securities and Exchange Commission accused Mickelson in a civil lawsuit of making nearly $1 million in a 2012 stock trade. Mickelson agreed to repay it.

- Jagajeet Chiba, Gambling911.com

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