OT: The Tiger Woods Story

[D1ESEL44]

That is a clear and concise audit trail of the insider trade and the front end of the transaction.

You neglect to talk about the back end of the transaction and the liquidation of the account. Phil liquidated the account and immediately laundered the net proceeds through said intermediary. He did not take possession of the $3+ million. Rather he shipped it off to settle his debt.

This is a quintessential example of an investor acting on inside information.

 

[WhiteBus]

According to the original court documents, Silveira accepted a wire transfer of $2.75 million, which he knew was part of "illegal activities."The money, according to the documents, came from a "gambling client" and had been transferred into Silveira's Wells Fargo Bank account.

The source of the money, according to documents filed Tuesday, was a gambler known to Silviera who did not want his identity publicized but wanted Silveira to use the transferred funds to pay off a betting debt. Silveira, who splits time between San Diego and La Quinta, is described in documents as a friend of a number of individuals who are also avid golfers.

The initial plea agreement signed by Silveira last year contained a reference to the "money laundering of funds from P.M." After Outside the Lines inquired about Mickelson's potential role in the case

Three quotes from earlier posted articles

Again you are confusing these accounts as being Mickelson when they are Davis's , who was charged along with Walters with securities fraud and wire fraud. The investigation was all about Davie's mounting debts not Mickelson's. The reference to PM's accounts includes three accounts of his with less than $250K

 

[kupuna133]

Again you are confusing these accounts as being Mickelson when they are Davis's , who was charged along with Walters with securities fraud and wire fraud. The investigation was all about Davie's mounting debts not Mickelson's. The reference to PM's accounts includes three accounts of his with less than $250K

Obviously we see this from two separate sides.

When in court documents it says laundered accounts of "PM" I have to assume it is not Phil Mickelson they are talking about rather "TD" Thomas Davis.

I clearly understand now.

 

[WhiteBus]

Obviously we see this from two separate sides.

When in court documents it says laundered accounts of "PM" I have to assume it is not Phil Mickelson they are talking about rather "TD" Thomas Davis.

I clearly understand now.

And when the SEC, who conducted the case said only some of the profits was used to pay off the gambling debt. And when know that the profits were $931k. We also know that the funds you are talking about approach $ 3million, than there seems to be a math problem from your equations.

 

[kupuna133]

And when the SEC, who conducted the case said only some of the profits was used to pay off the gambling debt. And when know that the profits were $931k. We also know that the funds you are talking about approach $ 3million, than there seems to be a math problem from your equations.

Again this additional quote from earlier.

- Nearly $3 million transferred from golfer Phil Mickelson to an intermediary was part of "an illegal gambling operation which accepted and placed bets on sporting events," according to two sources and court documents obtained by Outside the Lines.
The math problem seems to be you are not adding initial investment and return. That would take you over $3million.Not the $931k you keep talking about.
You also may want to read these articles to see the logic behind the SEC and their investigation. Finance journalists are perplexed why Mickelson is not being looked at more strongly.

http://fortune.com/2016/05/21/phil-mickelson-insider-trading-scandal/

http://finance.yahoo.com/news/the-r...der-trading-case-gambling-debt-175411145.html

Which leads back to if this were you and I, we would be in jail.

 

[WhiteBus]

Again this additional quote from earlier.

- Nearly $3 million transferred from golfer Phil Mickelson to an intermediary was part of "an illegal gambling operation which accepted and placed bets on sporting events," according to two sources and court documents obtained by Outside the Lines.
The math problem seems to be you are not adding initial investment and return. That would take you over $3million.Not the $931k you keep talking about.
You also may want to read these articles to see the logic behind the SEC and their investigation. Finance journalists are perplexed why Mickelson is not being looked at more strongly.

http://fortune.com/2016/05/21/phil-mickelson-insider-trading-scandal/

http://finance.yahoo.com/news/the-r...der-trading-case-gambling-debt-175411145.html

Which leads back to if this were you and I, we would be in jail.

To answer why Mickelson wasn't charged this is a very good NY Times article
http://www.nytimes.com/2016/05/21/s...lson-can-thank-an-insider-trading-ruling.html
Which is another reason why I think he is less $$ involved than $3million.

If he was involved as much as you say it is less likely that the SEC would pass on charging him. All famous prosecutors build their careers on big name cases. He would be more likely charged than you or me because they have the opportunity to take down the big fish.

I don't think you and I will never know anyway. So we will believe what we believe. All in all I'd love to have Phil Mickelson's problems no matter how big or small. Through all of this he walks away less the profit of the trade and his image is intact. Not one of his sponsors see this as a big deal enough to drop him.

 

[kupuna133]

To answer why Mickelson wasn't charged this is a very good NY Times article
http://www.nytimes.com/2016/05/21/s...lson-can-thank-an-insider-trading-ruling.html
Which is another reason why I think he is less $$ involved than $3million.

If he was involved as much as you say it is less likely that the SEC would pass on charging him. All famous prosecutors build their careers on big name cases. He would be more likely charged than you or me because they have the opportunity to take down the big fish.

I don't think you and I will never know anyway. So we will believe what we believe. All in all I'd love to have Phil Mickelson's problems no matter how big or small. Through all of this he walks away less the profit of the trade and his image is intact. Not one of his sponsors see this as a big deal enough to drop him.

This article has an SEC insiders thoughts on the case. If not for the recent precedence set, Mickelson would have had a much more difficult go of it. He pretty much got away with civil and criminal charges the way this guy sees it.

http://wealthmanagement.com/high-net-worth/real-story-behind-phil-mickelson-s-sec-settlement