1. 04-10-17 02:40 PM #1
    sam9ball
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    Billy Walters Convicted

    http://www.cardplayer.com/poker-news...nsider-trading
    Sports Gambler Billy Walters Convicted Of Insider Trading

    Legendary Bettor Could Spend About A Decade In Prison

    by Brian Pempus | Published: Apr 10, 2017 |


    “I just lost the biggest bet of my life.”

    Those were the words of Billy Walters, of one of the world’s most well-known sports bettors, after a jury in New York City on Friday convicted him of insider trading. The 70-year-old faces the possibility of spending the rest of his life in prison.
    Sentencing is scheduled for July, but the conviction will be appealed. Walters was permitted to return to Southern California to be with his family while he waits.
    Walters’ powerful friends include billionaire investor Carl Icahn and golfer Phil Mickelson, the latter who was linked to the case. Walters passed on an illegal stock tip to Mickelson that gave the golfer a profit of about $1 million. Mickelson used the money to repay a gambling debt to Walters. Mickelson wasn’t charged, though he was ordered to pay back the ill-gotten gains.
    The jury deliberated for two days after prosecutors laid out their case that Walters received $40 million in ill-gotten gains from trading stock of Dean Foods.
    The former chairman of Dean Foods testified that he fed Walters non-public information over a six-year period. The two were golfing and gambling buddies.
    Tom Davis was in poor financial shape thanks to his gambling and spending habits and needed money, according to prosecutors. Walters helped him out in exchange for the tips. Davis pleaded guilty to conspiracy, securities fraud, wire fraud, obstruction of justice and perjury last year.
    Davis’ gambling was so bad that he once dusted off $150,000 in a single blackjack hand.
    Walters was called “the most dangerous sports bettor in Nevada” in a 2011 report from CBS.
    He’s also a successful businessman with golf courses and auto dealerships in Las Vegas. His businesses generated about $500 million in revenue in 2013, the court was told, according to a report from the Bloomberg.
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  2. 04-10-17 02:41 PM #2
    jtoler
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    You coming off a bender Samuel?
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  3. 04-10-17 03:42 PM #3
    Philmill
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    Walters Legal team must be straight up dumb asses...

    Never fight the Feds...Get the best deal and get little time and move on....

    Legal team took him to the box and got there ass handed to them...
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  4. 04-10-17 03:48 PM #4
    MaddyMax
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    billy walters made a fotrune from real estate and some questionable activitities. he used sports betting as a cover up. vegas went along with it to promote sports betting and many day dreamers tried gambling wanting to be walters and failed. people are so gullible in usa.
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  5. 04-10-17 03:52 PM #5
    MickeyMan
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    Breaking news 5 days and 4 other threads later
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  6. 04-10-17 03:54 PM #6
    wikkidinsane
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    Phil Mickelson, what a disgusting guy
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  7. 04-10-17 06:08 PM #7
    acw
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    The minute this guy went on 60-minutes I knew he would get himself into trouble.

    No way he could ever make those so called fortunes on sports betting on Amercan sports in a complete Mickey Mouse betting environment. Even betting on European football in Asia where one can get on 100x the Caribbean size would still make it hard.
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  8. 04-10-17 06:21 PM #8
    RudyRuetigger
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    will 60minutes do a followup story to his segment

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  9. 04-10-17 06:27 PM #9
    jimminn
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    I wish they would audit all our congressmen and senators accounts to see how many of them have used inside information on their stock purchases. Would be very interesting.
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  10. 04-10-17 06:29 PM #10
    RudyRuetigger
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    Quote Originally Posted by jimminn View Post
    I wish they would audit all our congressmen and senators accounts to see how many of them have used inside information on their stock purchases. Would be very interesting.
    all would and should be in jail

    governor of Alabama is getting a slap on the wrist and had to resign for his actions..fukkin bs

    cant spend fukkin taxpayer money on adultery
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  11. 04-10-17 07:05 PM #11
    MaddyMax
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    Shit ton did insider trading just the other day right before Trump decided to attack Syria. Check out the oil trade volume prior to the attack and few other stocks as well.

    Only reason stock market is legal is because government can tax it. Sports betting is hard to tax so they ban it.
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  12. 04-10-17 07:19 PM #12
    RoyBacon
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    Quote Originally Posted by Philmill View Post
    Walters Legal team must be straight up dumb asses...

    Never fight the Feds...Get the best deal and get little time and move on....

    Legal team took him to the box and got there ass handed to them...
    Billy was 5-0 in jury trials prior to this one.

    He would have easily got away from this if he wasn't morbidly greedy. In all seriousness we would ALL take a hot tip and make a little money. Buy a few shares say 300, maybe a 1000. Billy is buying 200,000 shares the day before the news accounting for 1/3 of the daily volume. And did this numerous times making $44 million.

    His greed blinded him from common sense. The Feds are not going to waste their time on him if he made a couple of mil but he got greedy. And just like our parents taught us "the greedy become the needy".
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  13. 04-10-17 07:24 PM #13
    jjgold
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    Of course
    Guy was never a big winner in sports

    Maybe early years when there was no technology

    Quote Originally Posted by MaddyMax View Post
    billy walters made a fotrune from real estate and some questionable activitities. he used sports betting as a cover up. vegas went along with it to promote sports betting and many day dreamers tried gambling wanting to be walters and failed. people are so gullible in usa.
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  14. 04-10-17 07:33 PM #14
    slayer14
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    He will have regrets when he serving jail time in that dirty prison, he is spending the best years of his life in prison when normal people would be enjoying there retirement.
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  15. 04-10-17 07:53 PM #15
    gauchojake
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    Sam I heard we landed on the moon too! Amazing!
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  16. 04-10-17 09:13 PM #16
    RoyBacon
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    Quote Originally Posted by slayer14 View Post
    He will have regrets when he serving jail time in that dirty prison, he is spending the best years of his life in prison when normal people would be enjoying there retirement.
    I would put the O/U at 7 years. So he will do right at 5 years. A tough pull at age 70.
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  17. 04-10-17 09:18 PM #17
    mngambler
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    Hey you guys heard about Billy Walters? I heard he could be in trouble for something, anyone know?
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