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Phil Mickelson, Carl Icahn and William Walters are under investigation by the FBI and SEC in a major insider trading probe.
Between a world renowned golfer, a high profile investor and a Las Vegas gambler, this case involves a trio of powerful people. They have not yet commented on the issue.
Mickelson and Walters are both believed to have traded illegally on private information about Icahn’s investments into public corporations according to The Wall Street Journal. The past three years are being looked at closely by investigators to determine whether or not Walters or Mickelson were tipped off about possible market-moving investments by Icahn’s company.
The investigation centers around suspicious trades in Clorox Co. options merely days before an announcement that Icahn made a bid to acquire the company in 2011, notes Reuters.
The FBI and SEC declined to comment on the investigation.
By February 2011, Icahn had accumulated 9.1 percent stake in Clorox. In July, he valued the company at $10 billion when he made an offer which sent the stock soaring.
image courtesy of INFphoto.com