ORLANDO, Fla. – It was only five years ago that Phil Mickelson was linked to Las Vegas businessman and gambler Billy Walters in an insider trading investigation spearheaded by the FBI and Securities and Exchange Commission.
Mickelson was never charged with any crime and was listed as a “relief defendant” in a civil case, but his association with Walters, who was sentenced to five years in prison and fined $10 million for his involvement in the insider-trading case, prompted some interesting questions.
At the time, the PGA Tour had a relatively straight-forward regulation on gambling. Players were not allowed to “associate with or have dealings with persons whose activities, including gambling, might reflect adversely upon the integrity of the game of golf.