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

Crime

Gambling News

Sports

Rapper Chocolate MC, Las Vegas Casino Sued Over Alleged Rape of Teen

Chocolate MC is already incarcerated separately regarding an attempted murder-for-hire plot in Florida.

South Florida Casino Carjacking Suspect Captured One Month Later

Julio Salermo, 33, was charged with robbery/carjacking on Tuesday, one month after the incident occurred at the Miccosukee Casino & Resort outside of Miami.

Game Fixer, Jalen Smith Sentenced to Six Year Prison Term

(AP) PHILADELPHIA -- The man called the "fixer" of a scheme to rig college basketball games will spend six years in federal prison.

Las Vegas Casino Flamingo Theft Trial Kicks Off With Witness Testimony

The trial for a Canadian tourist accused of stealing and torturing a flamingo from a casino pool began on Wednesday with a security guard on his smoke break during a graveyard shift testifying about a voice crackled over the radio, “someone took a flamingo.”