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U.S. Supreme Court rejects insider trading appeal by Las Vegas gambler

U.S. Supreme Court rejects insider trading appeal by Las Vegas gambler

8.10.2019

U.S. Supreme Court rejects insider trading appeal by Las Vegas gambler

The U.S. Supreme Court on Monday refused to hear Las Vegas sports gambler Willia...

WASHINGTON (Reuters) - The U.S. Supreme Court on Monday refused to hear Las Vegas sports gambler William “Billy” Walters’ appeal of his 2017 insider trading conviction that landed him a five-year prison sentence in a case that also drew attention because of his ties to billionaire investor Carl Icahn and golfer Phil Mickelson.

In addition to his prison sentence, Walters was given a $10 million fine and ordered to forfeit about $25 million.

Walters tried to have his indictment thrown out, saying the case was prejudiced by leaks that prosecutors conceded likely violated criminal procedural rules. Walters suggested the leaks caused Davis to cooperate with the authorities and amounted to prosecutorial misconduct.

Reporting by Andrew Chung; Additional reporting by Jonathan Stempel in New York; Editing by Will Dunham

Read more: Reuters Top News

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