The Securities and Exchange Commission on Thursday alleged golfer Phil Mickelson made $931,000 after purchasing stock on an insider trading tip from noted sports gambler Billy Walters and then used some of the money to pay back Walters, to whom he allegedly owed money.
As part of the alleged Ill-gotten gains, the SEC is seeking to recoup that money from Mickelson, who was not criminally charged.
The SEC, in its case, said Mickelson spoke with Walters, with whom he had placed bets, in 2012 about an upcoming spinoff of dairy company Dean Foods. Based on a tip Walters had received, the SEC alleged Walters told Mickelson to buy the stock.