Phil Mickelson once owed a $2 million gambling debt to Billy Walters

Devil Ball Golf

Phil Mickelson is known for his penchant for taking chances on the golf course. In a federal court on Thursday, a jury got an idea of how much risk Mickelson takes on outside the ropes.

Federal prosecutors charged with trying famous Las Vegas gambler Billy Walters on charges of insider trading revealed Mickelson, who is a golf buddy of Walters, owed him nearly $2 million in gambling debts as of 2012.

According to the New York Post, prosecutors revealed that in an effort to imply a link between Walters’ alleged insider trading of Dean Foods stock in 2012 with profit Mickelson made on trades of the same stock in July 2012. Mickelson made approximately $931,000 on these trades, with prosecutors alleging Walters passed on his inside information. The five-time major winner then paid Walters $1.95 million, according to shared documents.

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Mickelson is not facing criminal charges related to the trades, though he did agree to repay the profits from that trade and a fine as part of a Securities and Exchange Commission lawsuit filed against him. Mickelson is on a list of possible defense witnesses for the trial, but, through his lawyer, indicated he would invoke 5th Amendment rights against self-incrimination to avoid testifying.

Mickelson is competing this week in the Shell Houston Open ahead of seeking a fourth Masters title next week at Augusta National Golf Club.

Phil Mickelson is in search of his first PGA Tour win since 2013. (Getty)
Phil Mickelson is in search of his first PGA Tour win since 2013. (Getty)

Ryan Ballengee is a Yahoo Sports contributor. Find him on Facebook and Twitter.

 

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