Before his hit the course Saturday, Phil Mickelson found himself on the defensive. A Hall of Fame golf and five-time major champion, Mickelson said he is cooperating in an insider trading investigation involving him, activist investor Carl Icahn and Las Vegas gambler Billy Walters.
"I have done absolutely nothing wrong," Mickelson said in a statement. "I have cooperated with the government in this investigation and will continue to do so. I wish I could fully discuss this matter, but under the current circumstances it's just not possible."
Phil Mickelson (AP Photo)
He did not speak to the media before beginning third-round play at the Memorial Championship in Dublin, Ohio.
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After rounds of 72 and 70, Mickelson was 1 under par through 14 holes Saturday and 3 under par for the tournament. Barring a miracle round he wouldn't be a factor in the tournament's title.
Mickelson apparently learned of the investigation Thursday, when officials approached him at Muirfield Village after his opening 18 holes, NBC Sports reported.
Despite the controversy, Mickelson's fans gave him a warm welcome Saturday.
Mickelson's manager confirmed Saturday that the investigation was the same outlined in reports in several newspapers, including the New York Times. It said Mickelson had not been accused of any wrongdoing.
The Times and the Wall Street Journal reported the FBI and Securities and Exchange Commissioner are analyzing 2011 trades Mickelson and Walters made involving Clorox about the time Icahn was attempting to take over the company. Reports also said investigators are examining trades by Mickelson and Walters involving Dean Foods Co. in 2012.
The issue: whether Icahn shared information of his Clorox takeover bid with Walters, and whether Walters passed that information on to Mickelson.
Icahn, 78, is one of Wall Street's most successful corporate raiders, famous for buying stock in underperforming companies, pressuring them to reform and selling out for a fat profit. Forbes magazine puts his net worth at more than $20 billion, making him the 18th-wealthiest American.
Walters is a high-stakes gambler. His eponymous company operates several golf courses. He has said he earns $15 million a year gambling on sports.
Mickelson, 43, goes to the U.S. Open next month with a chance to become only the sixth golfer to win all four major championships. He does have a reputation for placing a wager. The most publicized payoff was when Mickelson and friends won $560,000 on a preseason bet (28-1 odds) that the Baltimore Ravens would win the 2001 Super Bowl.
Contributing: Associated Press
Source: http://www.sportingnews.com/sport/story/2014-05-31/phil-mickelson-on-insider-trading-allegations-ive-done-nothing-wrong
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