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Why Mickelson, Icahn are Still Under Investigation for Insider Trading

August 31, 2014

New York Post
By John Aidan Byrne

It’s a long, hot summer for billionaire investor Carl Icahn, golf legend Phil Mickelson and Las Vegas gambling hotshot William “Billy” Walters.

The high-profile trio could face white-collar prison – that’s low-security Club Fed, sans cocktails – if investigators finally nail them in their long, drawn-out insider-trading probe, The Post has learned.

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“If the SEC brings a civil case against the three, it can seek disgorgement of profits, civil fines and injunctive relief – prohibiting future violations of the securities laws, as well as barring the individual from serving as a corporate director or officer or from serving in the industry,” said attorney Lathrop Nelson of Montgomery McCracken’s white-collar and government investigations practice.

“Assuming that the government can bring a successful criminal action against them – a term of imprisonment is not out of the question,” Nelson said, though unlikely. experts say.

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