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 that he regularly shared privileged insider information concerning the company with 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 buddy, Thomas Davis, testified against him this week.

The set 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 certainly one of the greatest processors of milk in america.

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

Innocent Fulfilling

Davis said that the relationship had started ‘fairly innocently’ after the pair met at a California golf course within the mid-nineties. He was happy enough to own occasional stock market tip into the hope he’d get some good sports betting advice inturn, he said

Nevertheless the nature associated with the relationship changed when Davis borrowed almost $1 million from Walters. After that, it ‘grew to a place where we was a digital conduit’ for inside information, he said.

‘I became inde (more…)

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