NEW YORK (AP) – A former Dallas-based food company executive who admitted feeding inside information to an influential Las Vegas gambler linked to golfer Phil Mickelson has been sentenced in New York to two years in prison.
A federal judge imposed the sentence Thursday on former Dean Foods Co. chairman Thomas Davis.
The judge acknowledged Davis was a pivotal cooperator who testified at trial against gambler William “Billy” Walters. Mickelson had to repay $1 million in stock profits after receiving a tip from Walters but wasn’t charged.
The judge criticized Davis for lying to the Securities and Exchange Commission and going on a gambling junket after pleading guilty. Davis apologized and must surrender Jan. 9.
Walters was convicted of making $40 million through illegal trading and was sentenced to five years in prison. His lawyer said the prosecution was based on lies.
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