Phil Mickelson is probably the biggest name in the golfing world currently, after Tiger Woods. However, he is notorious throughout the golf world for his gambling addiction. Recently, Phil even admitted to his gambling addiction after a prominent golf reporter published a book on his life.
Meanwhile, this addiction almost got him into enormous trouble, as investigations revealed Phil’s dealings with a well-known gambler. The investigation began in 2014 and continued for around two full seasons. Moreover, the PGA Tour remained silent until the authorities completed their inspection.
The FBI and SEC were investigating Phil Mickelson’s case. They believed Phil had dealings with a well-known gambler, Billy Walters, and had used his tips to make profits. Meanwhile, the tour player handbook doesn’t allow golfers to associate or have dealings with persons who might reflect adversely upon the integrity of the game of golf, including gambling.
How Phil Mickelson narrowly escaped a lawsuit
It all began in 2014 when FBI agents came to the 2014 Memorial Tournament. They questioned Mickelson about the Walters case. According to reports, Phil admitted to using a tip from Billy to buy stocks that increased in value by 40 percent overnight. He used the proceeds to repay debts owed to Walters for unspecified gambling losses.
The left-handed golfer admitted he made around $1 million in profits on the stock purchase. However, he paid back everything with interest. Therefore, the SEC couldn’t charge Phil Mickelson, as they could not conclusively prove that the stock tip Phil received from Billy came via inside information.
“I’m just glad it’s over,” revealed Mickelson. “It feels good that it’s over, and it’s passed, and it’s in the past. Ready to move on,” admitted Mickelson after getting a clean cheat. However, this happiness lasted for a short time. Five days after this statement, another controversy broke out.
Gregory Silveira, a man with gambling ties, was sent to prison for a year. According to reports, he went to prison for laundering $2.7 million of Mickelson’s money. He used this money to repay the six-time major championship winner’s gambling debts. But thankfully, Mickelson escaped this controversy unharmed.
Going forward, I’ll make the best effort I can to make sure I represent myself, as well as my family, as well as my companies, in the way that I meant to and they deserve,” concluded Mickelson.