The Federal Bureau of Investigation of the United States along with the US Securities and Exchange Commission are probing a possible insider trading which involves activist investor Carl Ichan, William Walters, a Las Vegas gambler, and golfer Phil Mickelson.

Federal investigators are investigating Walters and Mickelson on a possible illegal trading with private information given by Icahn regarding his investments in publicly-owned businesses. This was according to sources who confirmed the report with Reuters on Friday.

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The federal probe started three years ago said a source familiar with the matter who told Reuters. The investigation was the latest to have surfaced following the number of years of clearing out insider trading by the United States authorities.

The investigation followed a doubtful trading in Clorox Co by Mickelson and Walters after Icahn tried to access the company’s board in 2011, reported the New York Times, citing sources familiar with the probe.

Investigators were also probing trades that Walters and Mickelson made in Dean Foods Co. reported the New York Times. However, Icahn appeared to have not been linked in any way to that trading, said the paper.

Meanwhile, billionaire and activist investor Carl Icahn told Reuters that his company always followed the law and that he was not even aware of any ongoing investigation. He also confirmed that he has engaged in a business relationship with Walters. However, Icahn said that he does not have personal ties with Mickelson.

Icahn said that he was very proud that his 50 year old record in the industry remained clean and that he has never given any insider information.

The report from Reuters continued while citing a source saying that Mickelson and Walters play golf together.

Mickelson issued a statement through his manager saying that he has not done anything wrong. The golfer also said that he has cooperated with the investigation and would continue until the probe ends. Furthermore, Mickelson said that as much as he would fully discuss the matter, the current circumstances made it impossible for him to do so.

On the other hand, Mickelson’s lawyer, Gleen Cohen, was cited by The Wall Street Journal saying that the golfer has not been a target of the federal investigation.
William Walters did not comment regarding the report. Representatives from the FBI and SEC also declined to give statements.

The source told Reuters that none of the three men had been accused of wrongdoings in the past.

TagsCarl Icahn, William Walters, Phil Mickelson, Federal Bureau of Investigation, Securities and Exchange Commission, Clorox Co, Dean Foods Co, Reuters, insider trading