NEW YORK (AP) — A Las Vegas gambler accused of orchestrating an insider trading scheme involving pro golfer Phil Mickelson posted a $1 million bond to be freed from federal custody in Nevada ahead of a June 1 court date in U.S. District Court in New York.
A lawyer for William "Billy" Walters presented a $100,000 check in court to secure the bond, and a U.S. magistrate judge ordered Walters to surrender his passport and weapons pending trial on 10 conspiracy and fraud charges.
The 69-year-old Walters could spend the rest of his life in prison and have to surrender the proceeds of the alleged scheme. Prosecutors say he passed inside stock information between a director at a publicly traded food business and Mickelson.
Former Dean Foods Co. board member Thomas Davis pleaded guilty this week in the case and promised to cooperate in the investigation.