FBI Unable to Tap Phone Calls of Gambler Billy Walters as Part of SEC Probe

The Federal Bureau of Investigation (FBI) will be unable to use electronic surveillance in its investigation into golf pro Phil Mickelson and professional sports gambler Billy Walters. Public knowledge of a probe into alleged insider trading prevents the law enforcement agency from tapping into the phones of both individuals.

The investigation began three years ago and centers on suspicioius trades in the company Clorox.  Billionaire investor Carl Icahn is also under scrutiny as he had attempted to acquire Clorox at the time the trades were made in 2011.  Icahn also owns Atlantic City’s Tropicana Casino.

In an unusual twist, FBI agents are also prevented from tapping into Icahn’s phone conversations as he owns a stake in the telecom company with whose help the calls would be tapped.

Mickelson denied any wrongdoing and confirmed over the weekend that he had been cooperating with authorities.

"It's not going to change the way I carry myself," Mickelson said of the allegations. "Honestly, I've done nothing wrong. I'm not going to walk around any other way."

Walters, one of the biggest sports bettors in the world, has yet to issue any comment.

The investigation started after it was learned that Walters may have provided Mickelson with an insider trading tip regarding Dean Foods, Co.

Mickelson is said to regularly play golf with Walters, who owns courses in and around Las Vegas, Nevada. 

- Aaron Goldstein, Gambling911.com