Sports Betting Legend Billy Walters Loses Appeal for New Trial

**funnyb25** · 07-15-17, 01:15 PM

He is done

**Bostongambler** · 07-15-17, 01:16 PM

Cooked one might say.

**reigle9** · 07-15-17, 01:41 PM

phil mustve had to distance himself, tough break

**RudyRuetigger** · 07-15-17, 01:43 PM

good

i want this business clean

only corporations and companies should be allowed to steal

**reigle9** · 07-15-17, 01:45 PM

lol

**DrunkHorseplayer** · 07-15-17, 01:55 PM

Anyone stupid enough to engage in that crap while knowing that the Feds are watching their every move deserves to be put away forever; good night Billy.

**Darkside Magick** · 07-15-17, 01:58 PM

Originally posted by DrunkHorseplayer

Anyone stupid enough to engage in that crap while knowing that the Feds are watching their every move deserves to be put away forever; good night Billy.

This.
In the days before computer trading could have gotten away but this is just plain dumb

**CappinTerp** · 07-15-17, 02:08 PM

P.T. Barnum said it...................................... ......

**RangeFinder** · 07-15-17, 02:34 PM

His arrogance finally caught up with him. He's been a known crook for decades, and now he has to pay the price. Hope that was worth it.

**sweep** · 10-07-19, 04:22 PM

Legendary Sports Bettor Billy Walters' Appeal Denied By Federal Judge

Walters Argued That His Sentence From A 2017 Insider Trading Convcition Should Be Cut Short Because Of 'Prosecutorial Misconduct'

by Steve Schult | Published: Oct 07, 2019

One of the most successful sports bettors in the history of sports betting will not be getting his five-year prison sentence cut short.Billy Walters, who built an estimated fortune of about $200 million almost exclusively from his career as a professional gambler, was convicted of insider trading in early 2017. He was sentenced to five years behind bars and a $10 million fine.
A federal judge in Manhattan dismissed Walters’ appeal to have his sentence cut short and his case thrown out Monday.
During a six-year period between 2008-2014, Walters bought shares of Dean Foods Company based on information from former Chairman Thomas Dean that wasn’t public knowledge. Davis gave Walters inside information on a partnership with Darden Restaurants that led to the company netting $43 million during that time frame.
Walters was forced to forfeit the $25 million he made based on that information.
The legendary gambler claimed that the case should be thrown out because prosecutors leaked facts about the case to the public. His legal team argued that the leaks caused Davis to cooperate with authorities and amounted to ‘prosecutorial misconduct,’ according to a Reuters report.
The federal judge disagreed and said that there was no evidence to believe that the leaks impacted the grand jury in any way. The judge said that this was ‘sheer speculation’ by Walters.
In a 2018 interview with ESPN, Walters blamed professional golfer Phil Mickelson for his conviction.
“Here is a guy [Mickelson] that all he had to do was come forward and tell the truth,” Walters said to ESPN. “That’s all he had to do. The guy wouldn’t do that because he was concerned about his image. He was concerned about his endorsements.”
Mickelson allegedly had a $2 million gambling debt to Walters. As a way to help him repay that debt, Walters gave Mickelson the same insider information, which led to Mickelson profiting to the tune of seven-figures.
In 2016, Mickelson forfeited $1.03 million of what he made on that information to settle a civil case with the U.S. Securities and Exchange Commission.
Walters will finish out his sentence in a minimum-security prison in Florida. He is scheduled for release on February 14, 2022.

**CanuckG** · 10-07-19, 05:48 PM

Out in 3 years. He will be fine.

**icon** · 10-07-19, 05:49 PM

Originally posted by CanuckG

Out in 3 years. He will be fine.

Sure, he can still bet from prison using the phones there.

**Art Vandelay** · 10-07-19, 11:55 PM

Think he and Phil will be having dinner in Feb of 2022... LOL - Still pissed at Phil for bailing on him!

**Plaza23** · 10-08-19, 03:00 AM

Honestly insider trading convictions should be house arrest. No reason guy like this and Martha Stewart should be in prison.

I trade options for a living, everyone insider trades. The game is rigged.

**nyplayer33** · 10-08-19, 04:21 AM

Too expensive to house these kind if crimes, house arrest

**rm18** · 10-08-19, 05:17 AM

Originally posted by plaza23

honestly insider trading convictions should be house arrest. No reason guy like this and martha stewart should be in prison.

I trade options for a living, everyone insider trades. The game is rigged.

reported

**WvGambler** · 10-08-19, 06:10 AM

Originally posted by CappinTerp

P.T. Barnum said it...................................... ......

“I need more anal, Martha.”