Mickelson Charged with insider trading

[JudgeSmails]

http://www.marketwatch.com/story/phil-mickelson-charged-with-insider-trading-by-the-sec-2016-05-19

 

 

[JudgeSmails]

although this part: "The SEC referred to Mickelson as a so-called relief defendant. A relief defendant is someone who has received property obtained illegally but is not directly accused of wrongdoing."  makes me think he'll prob pay a small fine and move on

[Jmikecpa]

although this part: "The SEC referred to Mickelson as a so-called relief defendant. A relief defendant is someone who has received property obtained illegally but is not directly accused of wrongdoing."  makes me think he'll prob pay a small fine and move on

If he even gets a fine at all.  Most times the SEC does not bother with the little fish in these types of investigations.

[Kenny B]

He has to pay the money gained from the tip plus interest.

[Fireinthehole]

Without knowing further details, if a deal sounds too good to be true, it is.

 

 

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[Undershooter]

Without knowing further details, if a deal sounds too good to be true, it is.

 

 

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I think I read that his bookie told him to do it. He owed the guy a bunch of money and did that in place of paying the debt. The SEC is going after the bookie and not Phil so thus he is a "relief defendant."

[Kor.A.Door]

so Phil has been cleared of any wrong doing, and yet we start a thread that says he has been charged with insider trading. He hasn't been charged with anything that's what being cleared of any wrong doing means. I don't get involved to often in threads like this, but this is wrong.

[Mr_Theoo]

so Phil has been cleared of any wrong doing, and yet we start a thread that says he has been charged with insider trading. He hasn't been charged with anything that's what being cleared of any wrong doing means. I don't get involved to often in threads like this, but this is wrong.

 

This is how the headline looked

[McaseyM]

Click bait, i hate that.

Phil must have owed an absolute ton to his bookie if he's gonna lay down 2.4M.

If you're down that much, maybe you don't know as much about sports as you think. Luckily he has the money to burn, literally

 

 

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[Mr_Theoo]

Click bait, i hate that.

Phil must have owed an absolute ton to his bookie if he's gonna lay down 2.4M.

If you're down that much, maybe you don't know as much about sports as you think. Luckily he has the money to burn, literally

 

 

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I think at first he was going to be charged but his lawyers worked out a deal

[RoverRick]

I think at first he was going to be charged but his lawyers worked out a deal

 

And why do you think that? This has been going on for long time. They said months ago that Phil was not the suspect.

 

 

The SEC referred to Mickelson as a so-called relief defendant. A relief defendant is someone who has received property obtained illegally but is not directly accused of wrongdoing.

 

The headline that came out yesterday is salacious and deceitful and for the Judge to start a topic with that title tells me he did not read the story before repeating it.

[Undershooter]

so Phil has been cleared of any wrong doing, and yet we start a thread that says he has been charged with insider trading. He hasn't been charged with anything that's what being cleared of any wrong doing means. I don't get involved to often in threads like this, but this is wrong.

Its interesting who you think is morally bankrupt/unforgivable and who should be given every single benefit of a doubt. The dude had a massive debt to a big time bookie and knowingly went through with insider trading but no worries bc he's good guy Phil.

Personally I don't give a crap either way but be objective man. You can't hate on Tiger for stuff away from the game but think Phil is beyond doing wrong. He cut a deal, that's it. This was illegal. He weaseled his way out of it. Good for him at the end of the day but good God be objective for once. This wasn't like he was just grouped in by chance and bad luck.

[RoverRick]

This seems like a lot of money to regular people. But look at it in percentages.

Phil has earned $80,000,000 on tour and has a net worth of $180,000,000. Compared to someone who makes $50,000 per year for 25years having a total earnings of $1,250,000. Their net worth will most likely be nowhere near their total earning and certainly not double.

 

But $2.4M out of $180M is 0.013333. Equivocal to $16,667 for the guy making $50 k per year. The difference is this doesn't effect Phil's rent money. He's not having to say "Sorry girls, no new shoes cause daddy lost a $17k bet."

 

 

 

 

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[RoverRick]

As far as comparing Phil to Tiger, I must admit that I am just as shocked to learn Phil likes to gamble as I was that Tiger likes women.

Neither revaluation really matters.

 

Phil's reputation has always dedicated family man who was a generous tipper and liked to gamble and play for money. Not exactly a unique attitude for a golfer.

Tiger's reputation is just the opposite. Once again, not terribly unique.

 

 

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[Kor.A.Door]

Its interesting who you think is morally bankrupt/unforgivable and who should be given every single benefit of a doubt. The dude had a massive debt to a big time bookie and knowingly went through with insider trading but no worries bc he's good guy Phil.

Personally I don't give a crap either way but be objective man. You can't hate on Tiger for stuff away from the game but think Phil is beyond doing wrong. He cut a deal, that's it. This was illegal. He weaseled his way out of it. Good for him at the end of the day but good God be objective for once. This wasn't like he was just grouped in by chance and bad luck.

I'm not an idiot, I don't think hat Phil is totally innocent here, and he is not totally forgivable, but he has not been charged. Should he have been charged, maybe, but that's not for us to decide. He has not been charged, and has been cleared, maybe down the road it's different, but right now he has been cleared, you say he knowingly went through with insider trading, yet the SEC says differently, i think at the very least the name of the thread should show the truth, this is something that MGS prides itself in, the Truth, the truth is that he was not charged he has been cleared. This is thread is misleading.

[Undershooter]

I'm not an idiot, I don't think hat Phil is totally innocent here, and he is not totally forgivable, but he has not been charged. Should he have been charged, maybe, but that's not for us to decide. He has not been charged, and has been cleared, maybe down the road it's different, but right now he has been cleared, you say he knowingly went through with insider trading, yet the SEC says differently, i think at the very least the name of the thread should show the truth, this is something that MGS prides itself in, the Truth, the truth is that he was not charged he has been cleared. This is thread is misleading.

How has he been cleared? He isn't being charged with anything major bc he has cooperated and flipped on the the bigger fish, his bookie. He is no less guilty than he was before, he just gets lucky bc they only make him pay back the money and small fine.

Look I like Phil, I just find it interesting who people get all riled up for if you say something negative about them (even if its true). Yet those same people talk about how someone else is such an awful person and won't hear anything positive said about them (even if it's true). I get having an opinion but being biased out the wazzoo doesn't makes your opinion look any better when trying to communicate it to others.

 

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[Kor.A.Door]

How has he been cleared? He isn't being charged with anything major bc he has cooperated and flipped on the the bigger fish, his bookie. He is no less guilty than he was before, he just gets lucky bc they only make him pay back the money and small fine.

Look I like Phil, I just find it interesting who people get all riled up for if you say something negative about them (even if its true). Yet those same people talk about how someone else is such an awful person and won't hear anything positive said about them (even if it's true). I get having an opinion but being biased out the wazzoo doesn't makes your opinion look any better when trying to communicate it to others.

 

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In the article that is posted it says that has been vindicated, here's the definition:

vin·di·cate

ˈvindəˌkāt/

verb

past tense: vindicated; past participle: vindicated

clear (someone) of blame or suspicion.

"hospital staff were vindicated by the inquest verdict"

synonyms: acquit, clear, absolve, exonerate; More

show or prove to be right, reasonable, or justified.

"more sober views were vindicated by events"

synonyms: justify, warrant, substantiate, ratify, authenticate, verify, confirm, corroborate, prove, defend, support, back up, bear out, evidence, endorse

"I had fully vindicated my contention"

 

Not my words, cleared is cleared. I do t care who the person is, he has been cleared of any wrong doing. Nothing else to say.

[BigRick]

Not being charged is the same as being cleared.

[Undershooter]

In the article that is posted it says that has been vindicated, here's the definition:

vin·di·cate

ˈvindəˌkāt/

verb

past tense: vindicated; past participle: vindicated

clear (someone) of blame or suspicion.

"hospital staff were vindicated by the inquest verdict"

synonyms: acquit, clear, absolve, exonerate; More

show or prove to be right, reasonable, or justified.

"more sober views were vindicated by events"

synonyms: justify, warrant, substantiate, ratify, authenticate, verify, confirm, corroborate, prove, defend, support, back up, bear out, evidence, endorse

"I had fully vindicated my contention"

Not my words, cleared is cleared. I do t care who the person is, he has been cleared of any wrong doing. Nothing else to say.

Definitely not cleared hoss. If he was "cleared" he would be keeping that money and not paying a fine. Read above post ^. There is a difference between not being charged and being cleared.

Not copy paste job btw. Very pertinent info.

[Fireinthehole]

Seems like the SEC just wanted to go for the head of the snake and get people to flip and cooperate. Mickelson is essentially pleading no contest to avoid further problems or direct admission of guilt.

 

 

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[Kor.A.Door]

by definition: a relief defendant is someone who has received funds from someone else's criminal behavior, as a relief defendant, the money gained from the illegal activity of others will be returned, that is NOT my definition this is what a relief defendant is, someone who is cleared of wrong doing, but has to give back money received from the illegal activities of someone else. the word Vindicated as In the article above and the actual definition as I copied and pasted above means that someone has been cleared. These are not my words that I am writing this is what the definition of these words from the original article posted mean. As I said before, the courts and the SEC have made these decisions, and I don't think we are qualified to state the guilt or innocence of a person based on whether or not you like or believe someone, the SEC has all of the facts, and they have cleared Phil of any wrong doing in the case, but hey, he is in the news on the internet so he must be guilty.

[Undershooter]

by definition: a relief defendant is someone who has received funds from someone else's criminal behavior, as a relief defendant, the money gained from the illegal activity of others will be returned, that is NOT my definition this is what a relief defendant is, someone who is cleared of wrong doing, but has to give back money received from the illegal activities of someone else. the word Vindicated as In the article above and the actual definition as I copied and pasted above means that someone has been cleared. These are not my words that I am writing this is what the definition of these words from the original article posted mean. As I said before, the courts and the SEC have made these decisions, and I don't think we are qualified to state the guilt or innocence of a person based on whether or not you like or believe someone, the SEC has all of the facts, and they have cleared Phil of any wrong doing in the case, but hey, he is in the news on the internet so he must be guilty.

Bet you think OJ didn't do it either

 

The law is a weird thing and a lot of guilty people are let off every day. Doesn't change the fact that he did it. They just aren't doing anything about it bc he is cooperating and he isn't the biggest fish. Look I get it, your stubborn as usual and won't see any other opinion but yours. I think we can just leave it alone. Nice to see things don't ever change.

[Kor.A.Door]

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