Billy Walters Received Insider Information Via ‘Bat Phone,’ Jury Hears

Billy Walters Received Insider Information Via ‘Bat Phone,’ Jury Hears

Former chairman of Dean Foods Thomas Davis told a Manhattan court that is federal Tuesday which he regularly shared privileged insider information in regards to the company with Las Vegas sports betting legend Billy Walters.

Sports Billy that is betting Walters multiple fees of wire fraudulence 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 trial accused of profiting from illegal stock market trades on Dean Foods, a company that is dallas-based one of the largest processors of milk in america.

It is also alleged that Walters shared insider information, obtained from Davis, with their friends, including the golfer Phil Mickelson, who is planned to be called as a witness for the defense.

Innocent Fulfilling

Davis said that the connection had started ‘fairly innocently’ after the pair met at a California golf course in the mid-nineties. He had been happy sufficient to own occasional stock market tip into the hope he’d get some sports betting advice in exchange, he said

Nevertheless the nature regarding the relationship changed when Davis borrowed almost $1 million from Walters. After that, it ‘grew to a place where we had been a conduit that is virtual for inside information, he said.

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