Las Vegas sports gambler Billy Walters found guilty

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A jury found Las Vegas gambler Billy Walters guilty for insider trading. 

According to a news release from the Department of Justice, Walters received inside information about Dean Foods directly from one of its board members and illegally traded on it netting more than $43 million.

“In engaging in his years-long stock fraud scheme, Walters underestimated law enforcement’s resolve to pursue and catch those who cheat the market.  The integrity of the American financial markets is a bedrock principle upon which our economy and justice system relies, and this Office and our partners at the FBI are as committed as ever to protecting it,” said U.S. Attorney Joon H. Kim.

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