As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.
Tuesday, 24 January 2017
Last updated 7 hours ago
Jun 9 2014 | 9:21am ET
The gambler under investigation as part of an insider-trading probe into Carl Icahn and golfer Phil Mickelson was facing a $15.25 million bill from the Federal Deposit Insurance Corp. at the time of the allegedly illicit deals, court filings show.
Federal authorities are looking into trades made by William Walters and Mickelson, allegedly on tips provided to Walters by Icahn. All three men have denied wrongdoing.
At the time of the alleged trades, in 2011 and 2012, Walters owed as much as $15.25 million to the FDIC. Two companies owned by the gambler bought a Las Vegas golf club in 2006 with a loan from the Community Bank of Nevada, which they defaulted on two years later. Community Bank later failed and was taken over by the FDIC, which then sought payment from Walters, who had personally guaranteed the loan.
Two years ago, Walters was ordered to pay $11.2 million to satisfy the loan, a payment he made, according to the FDIC.