Billy Walters Received Insider Information Via ‘Bat Phone,’ Jury Hears

11 Mar

Billy Walters Received Insider Information Via ‘Bat Phone,’ Jury Hears

Billy Walters Received Insider Information Via ‘Bat Phone,’ Jury Hears

Former president of Dean Foods Thomas Davis told a Manhattan federal court on Tuesday that he regularly shared privileged insider information concerning the company with Vegas sports betting legend Billy Walters.

Sports betting Billy Walters faces multiple charges of wire fraud and securities fraud.The alleged source of insider information, his former friend, Thomas Davis, testified against him this week.

The set would communicate via particularly designated prepaid cellphones that they called their ‘bat phones,’ Davis said.

Walters is on test accused of profiting from illegal stock market trades on Dean Foods, A dallas-based company and certainly one of the biggest processors of milk in the US.

It’s also alleged that Walters shared insider information, obtained from Davis, with his friends, including the golfer Phil Mickelson, who is planned to be called as a witness for the protection.

Innocent Meeting

Davis said that the connection had started ‘fairly innocently’ after the pair met at a California greens in the mid-nineties. He had been happy sufficient to own occasional stock market tip in the hope he’d get some sports betting advice in return, he said

But the nature of the relationship changed when Davis borrowed almost $1 million from Walters. After that, it ‘grew to a place where I was a conduit that is virtual for inside information, he said.

‘I became indebted to him,’ he said. ‘He became more demanding of information.’

Davis said he offered Walter business secrets via the Bat Phone for over seven years, until 2014, including earnings information and upcoming crucial transactions.

He gave testimony this week as component of a plea discount with federal prosecutors, after admitting charges including securities fraud and wire fraud.

Walters Made $40 Million on Trades

Davis initially denied involvement when he was approached by federal agents in 2014. Authorities’ suspicions was aroused after it emerged Walters had made over $40 million on trades on Dean Foods through the years, including around $17 million between May 2012 and August 2012 alone.

The investigation was having on his family and himself after their visit, Davis threw his bat phone into a creek, he said, but later decided to come clean after he suffered a stroke and realized the impact.

‘I used very poor judgment and I also was scared to death I wanted to cover it up,’ he said that I had made some terrible mistakes and. ‘we lied to everybody.’

Mickelson is not charged having an offense, he earned in 2012 on one of Walters’ trading tips although he did return $1 million.

Walters pleads not liable and his lawyer contends Davis is lying.

Alabama Legislators Attempt to Pass Constant Fantasy Sports Bill

Proponents of legalizing Daily Fantasy Sports in Alabama are hoping a number that is traditionally unlucky their fortunes.

The state legislature is debating three various bills and if one passes, it would make them the 13th state in the US to enable its residents to participate in DFS.

Alabama has three bills that are separate the legislature proposing that Daily Fantasy Sports be legalized. (Image: Associated Press)

Up until May 2016 residents were able to take part at sites such as Draft Kings and Fan Duel. Luther Strange, the attorney general turned US Senator, stated it was a unlawful activity and delivered stop and desist letters to your businesses.

Whenever someone clicked on those sites they did not see the landing page, but instead a note having said that, ‘We’re sorry, but your location that is current prohibits from making deposits or playing on FanDuel.’

Fans immediately began to phone their state representatives and senators to protest and urged them to take action.

Age Old Argument

The debate on DFS is whether it’s skill or gambling plus the conversation is lively.

Sen. Tom Whatley (R-Auburn) who is sponsoring certainly one of the bills stated knowledge is the key to success in the contests. He told that it is far different than other forms of wagering.

‘To me, I don’t see it as the exact same type of gambling that i am opposed to in the past such as the casino-type of gambling,’ Whatley stated. ‘It’s about the abilities of picking teams that are playing once a day or a couple of times a week.’

Alabama people Action Program, a company funded by churches that opposes gaming of any kind, is fiercely in opposition to it.

‘It’s not like league play or play that is season-long friends and family,’ Executive Director Joe Godfrey stated. ‘This is daily fantasy sports. It’s really a big time gambling procedure.’

Patterned After Neighbor’s Law

Associated with three bills, HB 354 seems to have the most readily useful odds of passing. The legislation is modeled after a recently approved Mississippi law and would set up a plan that will regulate the industry.

Operators would have to pay for a registration fee of $85,000 if they had a lot more than 5,000 accounts and $10,000 if less than that figure. The revenue tax could be six per cent and companies will have to submit annual financial audits.

Other provisions will be an age limit of 19 or older and contests could only be on professional activities.

Casino Smoking Bad for the Body, but No Smoking Bad for company, Harrah’s New Orleans Says

Casino smoking inside Harrah’s New Orleans was banned since April of 2015, and as the two-year anniversary associated with the clean-air regulation approaches, representatives for the gambling venue are revealing just exactly how costly the ban has been.

Harrah’s New Orleans would enjoy absolutely nothing more than to remove their no casino smoking signs, while the ban is drastically hurting video gaming revenue. (Image:

Smoking is unquestionably bad for the body, but no smoking cigarettes is apparently detrimental to company. That’s the tale being presented by Caesars Entertainment President Mark Frissora this in Louisiana week.

Speaking during the Riverboat Economic Development and Gaming Task Force meeting on March 21, Frissora said Harrah’s New Orleans has lost almost $70 million since the ban has been implemented.

During a presentation, the Caesars CEO pointed to $342 million in gaming revenue in 2014, followed by $307 million in 2015 and simply $273 million in 2016. The annual decreases represent $35 million and $34 million for a total loss of $69 million.

Caesars Entertainment is the parent company to Harrah’s. The company owns Horseshoe Bossier City and Harrah’s Louisiana Downs, both located in the northwestern part of the state in addition to its New Orleans property.

Courtyard Video Gaming

Since 2007, all workplaces and restaurants in Louisiana have already been smoke-free, however the continuing state legislation does not extend to casinos and bars. The Big Easy changed that two years ago.

All smoking and vaping inside casinos unlike the rest of Louisiana’s land-based and riverboat gaming venues where smoking remains legal, Harrah’s New Orleans is being forced to adhere to a city code that outlaws. Outdoor smoking cigarettes lounges were established for patrons, but income nearly immediately left the building too.

Meanwhile, gaming income at gambling enterprises located outside of the city limits, the Boomtown brand New Orleans riverboat for example, has increased since 2015. ‘It’s maybe not fair because everyone else around us doesn’t have the cigarette smoking ban,’ Frissora told the committee.

The city threw Harrah’s New Orleans a bone when the casino was allowed by it to include 63 slots in its smoker-friendly courtyard. But with losses totaling nearly $70 million in 2 years, that isn’t also one video gaming machine per million dollars.

However, the designated video gaming courtyard is initial of three set to open.

Lighting a Fire

Gambling and smoking go together like America and apple pie, and that’s why Louisiana Gaming Task Force Chairman Ronnie Jones believes the ban is working against the intent behind having legalized gambling in New Orleans.

Harrah’s New Orleans has directed more than $1.2 billion in gaming taxes to the continuing state because it opened in 1999. It’s additionally paid $300 million in rent payments to the populous city, and raised over $8 million for Hurricane Katrina relief.

By all reports, Harrah’s is a strong partner to New Orleans.

Harrah’s forecasts 2017 video gaming profits should come in at $270 million, a cry that is far the $342 million it collected in 2014. ‘ I’m not a scientist, but the smoking is thought by me ban had an impact,’ Jones explained.

While supporters of the clean-air code say the health of Harrah’s workers is much more critical than the casino’s bottom line, Frissora explained he merely wants a level regulatory playing industry.

North Korea Casino Cruise Liner Invites Foreign Investors to Come Aboard

A North Korea casino ship is wanting to set sail through the Mount Kumgang tourist region to South Korea along with other nations that are asian. The Kumgang Special International Tourism Zone is a unique section of the reclusive totalitarian country that is charged with raising tens of vast amounts for Kim Jong Un’s government.

Site Visitors permitted to enter the country’s Mount Kumgang tourist region already arrive via ships, but now the isolated regime wants foreigners to invest in a North Korea casino cruise line. (Image: Carlos Barria/Reuters)

Tourism and access that is outsider North Korea is greatly restricted, but each year a limited number of visitors are permitted under close supervision. Mount Kumgang is one such area foreigners can travel, and now the nation is looking to debut a casino cruise to the location.

But in order to achieve this, North Korea is attracting investors that are foreign trying to raise $20 million for the project.

The country explains, ‘We are trying to diversify international tourism at the world-renowned Mount Kumgang in a proposal to potential investors in shoddy English. By using the cruise ship, we will diversify international tourism of Mount Kumgang, which will be famous hill of world.’

‘The passenger ship is going to be built with different facilities to allow 1,000 people to do cultural and travel that is safe the ocean,’ the notice hypes.

Do not expect billionaires Steve Wynn or Sheldon Adelson in the future running.

‘we strongly doubt there is foreign investors who are willing to invest cash in North Korea,’ Lim Eul-chul, a professor at Southern Korea’s Kyungnam University, told London’s Financial circumstances.

North Behind NY Fed Heist?

According to sources talking to the Wall Street Journal, the United States believes North Korea was behind the successful $81 million cyber bank heist from the Federal Reserve Bank of New York year that is last. The funds were swindled from the Bangladesh account, with some associated with ill-gotten money being laundered through at minimum two casinos in the Philippines.

The WSJ says federal authorities have reason to credit the theft to North Korea while the US remains under the impression that Chinese operatives carried out the hacking.

On February 5, 2016, hackers scheduled transfers totaling nearly $1 billion from the Bangladesh Central Bank for ‘international settlements’ set to be deposited into various records around the world. After $81 million was successfully withdrawn, an error that is spelling the eye of Deutsche Bank and prompted the economic institution to verify the transaction with Bangladesh officials.

In place of ‘Shalika Foundation,’ the recipient had been spelled ‘Shalika Fandation.’

Headed Towards War?

The eyes of world leaders are fixated on North Korea, as the nation is reportedly near to introducing another nuclear test. Last month, Jong Un’s military conducted its very first ballistic missiles test since President Donald Trump took office.

US Secretary of State Rex Tillerson has said the Obama management’s ‘wait-and-see’ approach is over in regards to North Korea. Jong Un has made no key about his wishes to obtain or build a weapon that is nuclear of reaching america.

White House Press Secretary Sean Spicer said this that the situation is ‘grave and escalating. week’ Yet another reason why foreigners that are fewn’t anticipated to be too keen on planning for a casino cruise ship in North Korea.

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