October 7, 2019 / 1:52 PM / 16 days ago

U.S. Supreme Court rejects insider trading appeal by Las Vegas gambler

WASHINGTON, Oct 7 (Reuters) - The U.S. Supreme Court on Monday refused to hear Las Vegas sports gambler William “Billy” Walters’ appeal of his 2017 insider trading conviction that landed him a five-year prison sentence in a case that also drew attention because of his ties to billionaire investor Carl Icahn and golfer Phil Mickelson.

Walters had asked the justices to review a lower court’s rejection of Walters’ request to have the charges thrown out because an FBI agent leaked grand jury details about the investigation to reporters.

Walters, 73, was accused of using nonpublic information from former Dean Foods Co Chairman Thomas Davis about the dairy processing company and Olive Garden parent Darden Restaurants Inc to make more than $43 million in profits and avoiding losses from 2008 to 2014.

Reporting by Andrew Chung; Additional reporting by Jonathan Stempel in New York; Editing by Will Dunham

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