Phil Mickelson hits a tee shot on the second hole during the first round of The Memorial Tournament.
Matt Sullivan/Getty Images)
By Matt Newman
Saturday, May 31, 2014

Phil Mickelson, professional gambler William "Billy" Walters and legendary billionaire investor Carl Icahn are being investigated by the FBI and Securities and Exchange Commission as part of a "major insider-trading probe involving finance, gambling and sports," according to a report in the Wall Street Journal.

The WSJ reports that Mickelson was approached by FBI agents after finishing his opening round yesterday at The Memorial Tournament in Dublin, Ohio. Mickelson referred the agents to his attorney. Glenn Cohen, identified as a lawyer for Phil Mickelson, told the WSJ that "Phil is not the target of any investigation. Period."

Mickelson, Walters and Icahn have not been charged with any wrongdoing.

Icahn is the founder of Icahn Capital Management and has an estimated net worth of $23 billion. His publically-disclosed positions have the ability to move markets. At issue is whether Walters and, by proxy, Mickelson, benefitted from non-public information given to them by Icahn prior to a takeover bid for Clorox.

The FBI is also investigating Dean Foods trades made by Walters and Mickelson in 2012 prior to a quarterly earnings report, according to the New York Times. The trades are not connected to Icahn.

Walters is known as one of the most successful sports bettors in the country. He owns several golf courses in Las Vegas, including Bali Hai. He partnered with Fredrik Jacobson to win the AT&T National Pebble Beach Pro-Am in 2008. Here he is on "60 Minutes."


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