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DOJ Releases Name of FBI Agent Accused of Insider Trading Leak

Prosecutors identified the FBI agent who they say admitted to leaking information to reporters about an insider trading investigation centering on Las Vegas sports gambler and professional golfer Phil Mickelson.

Coordinating supervisory special agent, David Chaves, was named Wednesday as the man who gave information about the investigation of sports gambler William Walter to reporters, Huffington Post reports.

Chaves admitted on Dec. 6 to being a "significant source" of information about the investigation in 2013 and 2014 for reporters at The Wall Street Journal and The New York Times.

The newspapers published several reports beginning in 2014 about the investigation, two years before prosecutors brought insider trading charges against Walters, who has built a fortune as a sports bettor.

Charges associated with the leaks have not been brought against Chaves, who oversaw the FBI team conducting the investigation.

In Walters' case, prosecutors say the gambler made more than $40 million through insider trading on tips supplied by Thomas Davis, the former chairman of Dean Foods Co, reports Reuters.

In a related civil case, The U.S. Securities and Exchange Commission (SEC) said Mickelson, who has three Masters pro golf titles, once bought Dean Foods' stock based on a tip by Walters, to whom he owed money.

Mickelson was not accused of wrongdoing, but he reached an agreement with the SEC to pay back $1.03 million the regulator said he earned trading shares of Dean Foods. Davis has pleaded guilty. Walters’ trial is scheduled for March 13.

 

 

Image: Unsplash

 

Posted in The Takedown

Tags: FBI, gambling, sports betting

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