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Billy Walters Received Insider Information Via ‘Bat Phone,’ Jury Hears

quarta-feira, março 11th, 2020



Former chairman of Dean Foods Thomas Davis told a Manhattan court that is federal Tuesday which he regularly shared privileged insider information concerning the company with Vegas sports betting legend Billy Walters.

Sports betting Billy Walters faces multiple costs of wire fraudulence and securities fraud.The alleged source of insider information, his former buddy, Thomas Davis, testified against him this week.

The set would communicate via particularly designated prepaid cellphones that they called their ‘bat phones,’ Davis said.

Walters is on trial accused of profiting from illegal stock market trades on Dean Foods, a company that is dallas-based certainly one of the greatest processors of milk in the US.

It is also alleged that Walters shared insider information, obtained from Davis, with his friends, including the golfer Phil Mickelson, that is scheduled to be called as a witness for the protection.

Innocent Meeting

Davis said that the partnership had started ‘fairly innocently’ after the pair met at a California greens in the mid-nineties. He was happy enough to own occasional stock market tip within the hope he’d get some good sports betting advice in exchange, he said

But the nature regarding the relationship changed when Davis borrowed almost $1 million from Walters. After that, it ‘grew to a spot where I was a conduit that is virtual for inside information, he said.

‘I became indebted to him (mais…)