Feds investigating Carl Icahn, Phil Mickelson for insider trading

|By:, SA News Editor

The FBI and SEC are pursuing a major insider trading probe involving investor Carl Icahn, golfer Phil Mickelson and Las Vegas gambler Billy Walters, according to multiple reports.

Investigators reportedly are examining whether Icahn (IEP) passed non-public tips on investments he was planning to make to Walters, and whether Walters then tipped Mickelson.

The government investigation is said to have begun after Icahn accumulated a 9% stake in Clorox (CLX) in Feb. 2011; Icahn made a $10.2B bid for CLX in July, and large, risky trades made in CLX options in the days before the bid sparked rumors that word had leaked.

Authorities also are looking into trades Mickelson and Walters made related to Dean Foods (DF).