Phil Mickelson to invoke 5th Amendment rights if called in inside-trading trial
Phil Mickelson will invoke his 5th Amendment right against self-incrimination if he’s called as a witness in the insider-trading trial of famous Las Vegas sports gambler Billy Walters.
Bloomberg reported on the choice, as told to a federal judge by one of Mickelson’s lawyers. This means Mickelson, who was on a possible defense witness list for the trial, will not testify.
“He is on our witness list, but we understand from his counsel he would invoke his Fifth Amendment if called,” defense attorney Barry Berke said, according to a transcript of the conference. “So he will not be called as a witness, although his name will be mentioned.”
The 70-year-old Walters is accused of making approximately $43 million by trading on inside tips provided by Tom C. Davis, the former chairman of Dean Foods Co. Mickelson was named in a 2016 federal lawsuit against Walters, claiming Mickelson made $931,000 on trading Dean Foods stock, using information from Walters, who he knows and has played golf with a number of times. Mickelson agreed to repay his earnings, and he’s not accused of criminal wrongdoing.
Mickelson’s name has been mentioned several times during the trial, including in the opening statements.
“If you’re Bill Walters and you believe someone is giving you illicit inside information, the last thing you’d do is give it to Phil Mickelson, one of the most famous athletes in the world who is going to attract regulatory scrutiny,” Berke told the jury.
Mickelson was asked about the potential of being called at the WGC-Dell Technologies Match Play. He was short in his response, saying, “I haven’t even thought about it,”
He added. “I don’t think I’m going to say any more.”
Ryan Ballengee is a Yahoo Sports contributor. Find him on Facebook and Twitter.
