Former chairman of Dean Foods Thomas Davis told a Manhattan federal court on Tuesday that he regularly shared privileged insider information concerning the company with Vegas sports betting legend Billy Walters.
Sports betting Billy Walters faces multiple costs of wire fraud and securities fraud.The alleged source of insider information, his former buddy, Thomas Davis, testified against him this week.
The set would communicate via specially designated prepaid cellphones that they called their ‘bat phones,’ Davis said.
Walters is on test accused of profiting from illegal stock market trades on Dean Foods, a company that is dallas-based certainly one of the largest processors of milk in the usa.
It’s also alleged that Walters shared insider information, obtained from Davis, with their friends, including the golfer Phil Mickelson, who’s scheduled to be called as a witness for the protection.
Davis said that the connection had started ‘fairly innocently’ after the pair met at a California course in the mid-nineties. He was happy enough to offer the stock that is occasional tip into the hope he’d acquire some sports betting advice inturn, he said
But the nature of this relationship changed whenever Davis borrowed almost $1 million from Walters. After that, it ‘grew to a place where I had been a conduit that is virtual for inside information, he said.
‘I became indebted to him,’ he said. ‘He Continue reading “Billy Walters Received Insider Information Via ‘Bat Phone,’ Jury Hears”