Gambler tied to Phil Mickelson convicted of insider trading

FILE - In this May 19, 2017, file photo, William "Billy" Walters walks out of the federal court house in Las Vegas. Prosecutors, in closing arguments Wednesday, April 5, 2017, urged a New York jury to find Walters, a professional Las Vegas gambler linked to golfer Phil Mickelson, guilty of earning tens of millions of dollars illegally in the stock market. Prosecutors say trading and phone records back up the testimony of a former Dean Foods Co. board member who said he gave secrets to Walters. (AP Photo/John Locher, File) FILE - In this May 19, 2017, file photo, William "Billy" Walters walks out of the federal court house in Las Vegas. Prosecutors, in closing arguments Wednesday, April 5, 2017, urged a New York jury to find Walters, a professional Las Vegas gambler linked to golfer Phil Mickelson, guilty of earning tens of millions of dollars illegally in the stock market. Prosecutors say trading and phone records back up the testimony of a former Dean Foods Co. board member who said he gave secrets to Walters. (AP Photo/John Locher, File)

By Associated Press April 7, 2017 1 min read

NEW YORK (AP) – A Las Vegas gambler linked to golfer Phil Mickelson has been found guilty of insider trading charges.

The verdict Friday capped a three-week trial in federal court in New York City for William “Billy” Walters.

The 70-year-old sports gambler was convicted by a jury that deliberated over two days. Mickelson never testified though he had been on a list of prospective witnesses. Sentencing was set for July.

A prosecutor had said Mickelson earned nearly $1 million after Walters told him to buy Dean Foods Co. stock in 2012. The Securities and Exchange Commission cited Mickelson in a lawsuit and Mickelson agreed to repay it.

Walters was convicted of earning over $40 million illegally.