As the insider trading trial of Las Vegas gambler Billy Walters swung into its second week on Monday, Carl Icahn’s name ended up being once again dragged into proceedings.
Presidential adviser Carl Icahn title has again been brought up in the Billy Walters case. Federal prosecutors desire to introduce evidence that Walters spoke to his friend, Icahn, just before he bought shares in Clorox in 2011.
Icahn, the billionaire investor that is activist owner of the Tropicana Casino and two shuttered former Trump gambling enterprises in Atlantic City, and unpaid adviser to your President of this United States, is a friend of Walters’.
This will be the insider trading case that is biggest in years. Walters is accused of earning $43 million from illegal stock exchange trades on the dairy that is dallas-based Dean Foods. Former Dean Foods president, Tom Davis is accused of feeding privileged information to Walters over a period that is seven-year.
Davis is testifying against his former friend as part of a plea bargain with federal prosecutors after admitting charges including securities fraud and cable fraudulence.
It is also alleged that Walters shared insider information, acquired from Davis, along with his friends, including the golfer Phil Mickelson, whose attorneys have said would ‘take the 5th’ if he were called as witness.
Concerns Around Clorox and Apple Stock
Neither Mickelson nor I (more…)