Former chairman of Dean Foods Thomas Davis told a Manhattan court that is federal Tuesday which he regularly shared privileged insider information about the company with Vegas sports betting legend Billy Walters.
Sports Billy that is betting Walters multiple costs of wire fraud and securities fraud.The alleged source of insider information, his former friend, Thomas Davis, testified against him this week.
The set would specially communicate via designated prepaid cellphones which they called their ‘bat phones,’ Davis said.
Walters is on trial accused of profiting from illegal stock market trades on Dean Foods, A dallas-based company and certainly one of the greatest processors of milk in the US.
It is also alleged that Walters shared insider information, obtained from Davis, with their friends, including the golfer Phil Mickelson, that is planned to be called as a witness for the defense.
Davis said that the connection had started ‘fairly innocently’ after the pair met at a California course in the mid-nineties. He had been happy enough to offer the occasional stock market tip in the hope he’d acquire some sports betting advice in exchange, he said
But the nature regarding the relationship changed when Davis borrowed almost $1 million from Walters. After that, it ‘grew to a spot where I was a virtual conduit’ for inside information, he said.
‘I became indebted to him,’ he said. ‘He Continue reading Billy Walters Received Insider Information Via ‘Bat Phone,’ Jury Hears