As the insider trading trial of Las Vegas gambler Billy Walters swung into its week that is second on, Carl Icahn’s name ended up being once more dragged into procedures.
Presidential adviser Carl Icahn name has yet 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 stocks 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 the President for the United States, is a friend of Walters’.
This is the biggest insider trading case in years. Walters is accused of making $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 friend that is former as of a plea bargain with federal prosecutors after admitting charges including securities fraud and cable fraud.
It is also alleged that Walters shared insider information, obtained from Davis, along with his friends, including the golfer Phil Mickelson, whose attorneys have actually said would ‘take the 5th’ if he were called as witness.
Concerns Around Clorox and Apple Stock
Neither Mickelson nor Icahn are accused o