Former chairman of Dean Foods Thomas Davis told a Manhattan federal court on Tuesday he regularly shared privileged insider information in regards to 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 friend, Thomas Davis, testified against him this week.
The pair would specially communicate via 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 one of the biggest 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 is scheduled to be called as a witness for the defense.
Davis said that the partnership had started ‘fairly innocently’ after the pair met at a California course in the mid-nineties. He had been happy enough to offer the stock that is occasional tip within the hope he’d acquire some sports betting advice in return, he said
But the nature of the relationship changed when Davis borrowed almost $1 million from Walters. After that, it ‘grew to a spot where we had been a conduit that is virtual for inside information, he said.
‘I became indebted to him,’ he stated. ‘He Leia mais