We will post the most important news right here, updating throughout the day.

Interesting short piece from Options Monster.  Mickelson bought the Clorox options when they had only four days left before expiration!  And — voila! — Icahn made his announcement on the very day those options were set to expire.  An Options Monster analyst at the time “noted the extreme nature of those trades.”

Billy Walters comments.

New WSJ article with the lastest news.

CNBC did an extended segment on the scandal.  One CNBC reporter investigated the 13-A reports and found that Icahn did make some purchases of Clorox for his fund (not just for his personal account) which could trigger “insider” status, causing him big legal headaches.

A panelist said, forget the legality of it, what will retail investors think if Mickelson’s acting on such private information nets him millions?  They already think the game is rigged; it would be another reason to invest elsewhere (not what the NYSE wants to hear).

Earlier in the day, I saw a “legal expert” saying that Mickelson was absolutely not guilty of a crime.  This struck me as odd, so I looked up the expert online and found he heads a law firm defending white collar criminals.  Yeah, right, that’s an unbiased commentator…

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9 Responses to THE MICKELSON INSIDER TRADING SCANDAL: Monday’s Latest Developments

  1. Bermuda Bob says:

    Everything I have seen or heard about this matter boils down to the fact that the Feds do not even have enough for a Wire Tap Warrant, so they obviously will have problems even bringing their case to Court.

    I also just heard that the Feds pulled Phil off a plane recently. As I said in my other comment, I firmly believe that the Feds are doing nothing but trying to validate their existence by making investigations public. Interestingly enough, this is a matter that happened some time ago, which also goes to my point about validity and proof !!!

    • lannyh says:

      Well, they spoke to Mickelson after he got off the plane a year ago, not recently. And they have been monitoring phone calls, as I understand it. The investigation was going on “so long” because they were going after enough information to assure them an airtight case. Pareet Bharara is 85 for 85 in convictions the past five years. I don’t know what more they need to do to “validate their existence.”

      • Bermuda Bob says:

        I have a TV in my office and have had various people on, from Financial to News to Sports figures. The overwhelming conclusion is that it will be impossible to prove – even more so now that it has been made public, that they could not obtain Wire Tap Warrants, and that many have tried to prosecute this Vegas Gambler but with no success.

        As a retired Police Officer, I can assure you that there are many divisions who must continue to validate their existence – not so much as their jobs, but their positions within the unit, their budget, and the amount of personnel. This is true from local Municipal Prosecutors, up thru County Prosecutors, further on to state AG’s. On the Federal level it is the same, especially when it comes to seemingly victimless crimes.

        The bottom line is that when the investigation gets exposed it is usually shot, so they expose it to the public in the hope that some do-gooder will emerge and volunteer information they could only have come across by happenstance.

        I doubt that Phil has lost or will lose any sleep over this. He is as safe as Jack’s Records are these days !!!

        Rock On !!!

      • lannyh says:

        Did you also cheer for O.J. Simpson to get off? That’s another case where it was clear what happened, and yet law enforcement was unable to get a conviction.
        I guess something is wrong with me. As a law-abider, when someone commits a crime, I want to see them brought to justice. As an honest investor, when I see someone profit from gaming the system, I want to see them pay.
        I will NEVER understand why people who cheer for Tiger Woods think he is incapable of doing wrong, and people who cheer for Phil Mickelson think he is incapable of doing wrong. And they “hate on” the other guy, and he can do no right.

  2. James York says:

    Some years ago, Phil asked Titleist for four million dollars to play their clubs. They refused and Phil switched to Callaway. Hmm… .

  3. Bermuda Bob says:

    Hmmmmmm … Phil was also forced to wear a hat, but settled on a visor when his sponsor complained that they were not getting enough exposure.

    Phil also wore Hugo Boss like a lot of other guys on Tour. Hugo Boss was the clothier to the Germain Reich, especially the Gestapo !!! So what ??? I’ll bet he might even have Swiss bank accounts and even considered Monte Carlo … Who Cares ???

    So what does that all have to do with this topic ??? Many players change their equipment, clothing, shoes, cars, jets, and tonnes of other sponsor’s products based on the fees they are paid and just how pliable/forthcoming management is !!! What is the big deal ???

    Get over it, and your jealousy !!!

  4. Bermuda Bob says:

    OJ got off because they assigned a goof-ball Judge who allowed a lot of the BS that got him off, especially “If it does not fit, you must Acquit.” !!!
    You will also recall that there was a great deal of concern that had he been found Guilty, riots worse than 1967 thru 1969 were promised !!!

  5. lannyh says:

    I hope Occupy Wall Street protests Mickelson at the US Open.

    • Bermuda Bob says:

      Please, no Fascists on the Golf Course … We will be enjoying another TW-less Major, lets enjoy it !!!

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