Mickleson to return ‘ill-gotten’ profit

Golfer Phil Mickelson signs an autographImage copyright
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Golfer Phil Mickleson will return $931,000 in profits linked to an insider trading scheme.

Mr Mickelson said he had no desire to benefit from trading in stock that regulators found questionable.

The SEC alleged that gambler William Walters – a friend of Mr Mickleson – had passed on a trading tip to the golfer.

Mr Walters is alleged to have been given tips about Dean Foods stock from its chairman Thomas Davis.

Mr Mickelson was named as a “relief defendant” in the SEC suit. He is not accused of participating in insider trading, but of receiving money as a result of the scheme.

He will repay the money, plus more than $100,000 interest, the SEC said.

In a statement released through his attorney, Mr Mickelson said he takes “full responsibility” for having become part of the SEC probe.

Mr Mickelson, who has won three Masters golf titles, added that he appreciated that the companies he represents had decided to continue their sponsorship agreements with him.

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