Phil Mickelson had a secret — he owed big money to a...

Phil Mickelson had a secret — he owed big money to a sports bettor who let him benefit from inside trading

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Phil Mickelson has five major golf championships and countless endorsement deals. Thomas C. Davis, a former investment banker, has a Harvard pedigree and a country club lifestyle.

They also had a secret.

Both men owed money to William T. Walters, a high-rolling Las Vegas kingmaker, often considered the most successful sports bettor in the country.

Now, federal authorities say those debts were at the centre of a long-running insider trading scheme.

Federal prosecutors in Manhattan on Thursday unveiled criminal charges against Walters, saying that illegal stock tips from Davis helped him generate some $40 million in profits and avoided losses. They also charged Davis, who has agreed to…



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