Saturday, October 25, 2014
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

Mickelson says he’s cooperating in trading probe

Phil Mickelson

Phil Mickelson adjust his hat as he walks off the first tee during the third round of the Memorial golf tournament Saturday, May 31, 2014, in Dublin, Ohio. Mickelson says he's co-operating in an insider trading investigation involving him, investor Carl Icahn and Las Vegas gambler Billy Walters but maintains he did nothing wrong. Mickelson's manager confirmed Saturday that the investigation was the same outlined in reports in several newspapers, including the Wall Street Journal. (AP Photo/Darron Cummings)

By
From page B1 | June 01, 2014 |

DUBLIN, Ohio — Hall of Fame golfer Phil Mickelson confirmed that FBI agents investigating insider trading approached him this week at the Memorial Tournament. The five-time major champion said Saturday he has done “absolutely nothing wrong.”

A federal official briefed on the investigation told The Associated Press the FBI and Securities and Exchange Commission are analyzing trades Mickelson and Las Vegas gambler Billy Walters made involving Clorox at the same time activist investor Carl Icahn was attempting to take over the company.

The official was unauthorized to speak about the ongoing investigation and spoke to the AP on condition of anonymity. Reports of the investigation appeared in several newspapers, including the Wall Street Journal.

Smiling as he stood before a room packed with reporters and cameras, Mickelson said the investigation had not been a distraction until FBI agents approached him after his opening round Thursday. He did not offer any other details, including his relationship with Walters or any stock advice he might have received.

He said it would not affect his preparations for the U.S. Open in two weeks, the only major he lacks for the career Grand Slam.

“It’s not going to change the way I carry myself,” Mickelson said after an even-par 72 at Muirfield Village left him far behind the leaders. “Honestly, I’ve done nothing wrong. I’m not going to walk around any other way.”

The federal official told the AP that Mickelson and Walters placed their trades about the same time in 2011. Federal investigators are looking into whether Icahn shared information of his takeover attempt of Clorox with Walters, and whether Walters passed that information to Mickelson.

The New York offices of the U.S. Attorney and the FBI declined to comment.

The newspaper reports said federal officials also were examining trades by Mickelson and Walters involving Dean Foods Co. in 2012.

After a brief interview, Mickelson stepped outside and signed autographs for about 20 minutes, like it was any other day at a tournament. Fans were supportive as ever on the golf course, and Mickelson gave away so many golf balls to children and his caddie asked a tour official to retrieve more balls from his locker when they reached the turn.

He had released a statement early Saturday, and said that he wouldn’t release details.

“I can’t really go into much right now, but as I said in my statement, I have done absolutely nothing wrong,” Mickelson said. “And that’s why I’ve been fully cooperating with the FBI agents, and I’m happy to do in the future, too, until this gets resolved.”

He declined to answer questions about his relationship with Walters, who owns several golf courses. And when asked whether Walters advised him to invest in Clorox or Dean Foods, Mickelson matter-of-factly replied to a Wall Street Journal reporter, “You should know. You wrote the article.”

Icahn, 78, is one of Wall Street’s most successful corporate raiders, famous for buying stock in underperforming companies, pressuring them to reform and selling out for a fat profit. In recent years, his targets have included Apple Inc., eBay and Dell Inc. His efforts have made him one of America’s richest people: Forbes magazine puts his net worth at more than $20 billion, making him the 18th-wealthiest American.

In the 1980s, he pioneered so-called greenmail raids in which financiers threatened companies with hostile takeovers unless they were paid a premium to go away.

Walters is a legendary figure in sports betting circles, widely feared by sports book operators as one of the few people who can consistently win. He’s bet millions on Super Bowls alone, and told “60 Minutes” in a 2011 profile that he has never had a losing year. An early user of computer data, Walters was one of the few bettors whose opinion was so respected that he could move point spreads if it was known what side he was betting on.

Walters and a group of bettors dubbed The Computer Group were indicted in the mid-1980s for running what prosecutors said was a bookmaking operation, but were acquitted at trial. Walters was also indicted on money laundering charges in 1998 and had $2.8 million in cash confiscated from a safe deposit box, but the charges were later dismissed and the money returned.

Walters was also a high stakes gambler on the golf course, regularly playing celebrities or PGA Tour pros for cash. He told Golf Digest that he once lost a $2 million bet and once made a 40-foot putt worth $400,000. Walters teamed up with touring pro partner Fredrik Jacobson to win the AT&T Pebble Beach National Pro-Am by 10 strokes in 2008 while playing as an 11 handicap.

Walters also owns golf courses and auto dealerships. Politically connected in Las Vegas, Walters is also known for his philanthropy, particularly toward Opportunity Village, which trains developmentally disabled adults.

Mickelson, 43, was inducted into the World Golf Hall of Fame in 2011. He goes to the U.S. Open next month in North Carolina with a chance to become only the sixth golfer to capture all four major championships. He has not won since the British Open last summer in Scotland.

Mickelson has long had a reputation to gamble, though he has said he scaled back his habit after his son, Evan, was born in 2003 following a troublesome pregnancy. The most publicized payoff was when Mickelson and friends won $560,000 on a preseason bet (28-1 odds) that the Baltimore Ravens would win the 2001 Super Bowl.

On the golf course, he has a long history of playing money games during the practice rounds. He occasionally gets a group of players and caddies together for dinner and small wagering during the NBA and NHL playoffs, and prominent fights.

A year ago, Mickelson was criticized for public comments that tax increases in California kept him from being part of the San Diego Padres’ new ownership group and might cause him to leave his native state. He said his federal and state taxes amount to over 60 percent.

The Associated Press

The Associated Press

LEAVE A COMMENT

Discussion | No comments

The Daily Republic does not necessarily condone the comments here, nor does it review every post. Read our full policy

.

Solano News

 
 
 
Optimist Club brings youth together for Halloween golf

By Amy Maginnis-Honey | From Page: A3

Cut-a-thon to help fight cancer, abuse

By Susan Hiland | From Page: A3

 
Fall Harvest Festival brings children back to school

By Susan Hiland | From Page: A3 | Gallery

School board candidates forum set next week

By Susan Winlow | From Page: A4

 
 
Staying active may prolong your life

By Scott Anderson | From Page: B8

 
Suisun City police log: Oct. 23, 2014

By Susan Hiland | From Page: A9

.

US / World

Suspect arrested in death of 2 California deputies

By The Associated Press | From Page: A1, 3 Comments

 
KC-10 from Travis lands in Houston, smoke in cockpit

By The Associated Press | From Page: A3

Reagan astrologer, Joan Quigley, dies at 87

By The Associated Press | From Page: A4, 2 Comments

 
Jury says castrated sex offender should be freed

By The Associated Press | From Page: A4

Remains belong to missing Virginia student

By The Associated Press | From Page: A5

 
Dallas nurse receives thanks, hug from Obama

By The Associated Press | From Page: A5, 13 Comments

School gunman was Homecoming prince, students say

By The Associated Press | From Page: A5, 1 Comment

 
Lava creeps toward road on Hawaii’s Big Island

By The Associated Press | From Page: A5

NY, NJ order Ebola quarantine for doctors, others

By The Associated Press | From Page: A9

 
Gunman in Canada attack complained about mosque

By The Associated Press | From Page: A10

Egypt declares emergency in northern Sinai

By The Associated Press | From Page: A10

 
Militant group said to be using chlorine bombs

By The Associated Press | From Page: A10, 1 Comment

Putin accuses US of undermining global stability

By The Associated Press | From Page: A10

 
.

Opinion

Return Garamendi to Congress

By Daily Republic | From Page: A8, 13 Comments

 
Editorial Cartoons: Oct. 25, 2014

By Daily Republic Syndicated Content | From Page: A8

SEIU shouldn’t own Board of Supervisors

By Letter to the Editor | From Page: A8, 6 Comments

 
Vote, and make a difference

By Letter to the Editor | From Page: A8, 1 Comment

Yes on Measure A

By Letter to the Editor | From Page: A8, 2 Comments

 
Spering best choice for county supervisor

By Daily Republic | From Page: A8, 7 Comments

.

Living

Today in History: Oct. 25, 2014

By The Associated Press | From Page: A2

 
Community Calendar: Oct. 25, 2014

By Susan Hiland | From Page: A2

Horoscopes: Oct. 25, 2014

By Holiday Mathis | From Page: A7

 
My mother-in-law wants me to convert to Catholicism, but I don’t want to

By Kathy Mitchell and Marcy Sugar | From Page: A7

Hello Kitty turning 40, and the birthday bash will be ‘supercute’

By Mcclatchy-Tribune News Service | From Page: B8

 
.

Entertainment

TLC cancels its ‘Honey Boo Boo’ series

By The Associated Press | From Page: B9

 
P.D. James’ riff on Jane Austen comes to TV

By The Associated Press | From Page: B9

TVGrid

By Daily Republic Syndicated Content | From Page: B9

 
.

Sports

Vintage rolls past Armijo, 55-8

By Mike Corpos | From Page: B1

 
Mustangs fall flat in rout by Wildcats

By Marcus Lomtong | From Page: B1, 3 Comments

Royals beat Giants 3-2 for 2-1 World Series lead

By The Associated Press | From Page: B1 | Gallery

 
Vargas to take on Vogelsong in Game 4 of Series

By The Associated Press | From Page: B1 | Gallery

Falcons hang with Wolves in 34-8 setback

By Paul Farmer | From Page: B1, 1 Comment | Gallery

 
Hamilton helps Vanden sink Vallejo, 35-0

By Nick DeCicco | From Page: B1

Unfazed, 49ers coach Jim Harbaugh doing it his way

By The Associated Press | From Page: B2

 
Lloyd leads US women past Mexico 3-0

By The Associated Press | From Page: B2

Raiders’ Woodley, Young expected to be placed on IR

By The Associated Press | From Page: B2

 
Henley’s putting gets him lead at Sea Island

By The Associated Press | From Page: B2

Judge halts New Jersey’s sports betting plan

By The Associated Press | From Page: B2

 
Joe Maddon exercises opt-out, won’t return to Rays

By The Associated Press | From Page: B2

Jamie McMurray bests Chase drivers to win pole

By The Associated Press | From Page: B2 | Gallery

 
Attorney: NFL, Ravens not helping union in Rice probe

By The Associated Press | From Page: B2

SCC women’s soccer team falls to Mendocino 3-1

By Daily Republic staff | From Page: B2

 
This date in sports history for Saturday, Oct. 25, 2014

By The Associated Press | From Page: B3

 
.

Business

US official: Auto safety agency under review

By The Associated Press | From Page: B4

 
Ford profit falls in third quarter on truck costs

By The Associated Press | From Page: B4

Procter & Gamble taking out its batteries

By The Associated Press | From Page: B4

 
UPS expects double-digit surge in Dec shipments

By The Associated Press | From Page: B4

US new-home sales close to flat in September

By The Associated Press | From Page: B4

 
.

Obituaries

Melvin Tate

By Nancy Green | From Page: A4

 
Mark Dean Lindsay

By Nancy Green | From Page: A4, 1 Comment

Dr. Robert M. Takamoto

By Nancy Green | From Page: A4

 
.

Comics

Baby Blues

By Daily Republic Syndicated Content | From Page: A6

 
Frank and Ernest

By Daily Republic Syndicated Content | From Page: A6

Sally Forth

By Daily Republic Syndicated Content | From Page: A6

 
Wizard of Id

By Daily Republic Syndicated Content | From Page: A6

Blondie

By Daily Republic Syndicated Content | From Page: A6

 
Zits

By Daily Republic Syndicated Content | From Page: A6

For Better or Worse

By Daily Republic Syndicated Content | From Page: A6

 
Peanuts

By Daily Republic Syndicated Content | From Page: A6

Pickles

By Daily Republic Syndicated Content | From Page: A6

 
Beetle Bailey

By Daily Republic Syndicated Content | From Page: A6

B.C.

By Daily Republic Syndicated Content | From Page: A6

 
Dilbert

By Daily Republic Syndicated Content | From Page: A6

Get Fuzzy

By Daily Republic Syndicated Content | From Page: A6

 
Rose is Rose

By Daily Republic Syndicated Content | From Page: A6

Garfield

By Daily Republic Syndicated Content | From Page: A6

 
Baldo

By Daily Republic Syndicated Content | From Page: A6

Bridge

By Daily Republic Syndicated Content | From Page: A7

 
Sudoku

By Daily Republic Syndicated Content | From Page: A7

Word Sleuth

By Daily Republic Syndicated Content | From Page: A7

 
Cryptoquote

By Daily Republic Syndicated Content | From Page: A7

Crossword

By Daily Republic Syndicated Content | From Page: A7

 
.

Home Seller 10/25/14

Real estate transactions for Oct. 25, 2014

By Daily Republic | From Page: HSR2