Reports name Mickelson in federal insider trading probe - San Diego, California News Station - KFMB Channel 8 - cbs8.com

Reports name Mickelson in federal insider trading probe

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SAN DIEGO (CBS 8) - The New York Times and the Wall Street Journal report that golf great and San Diegan Phil Mickelson is the subject of a federal probe involving insider trading.

However his attorney told the Journal, "Phil is not the target of any investigation. Period," said the lawyer, Glenn Cohen.

A San Diego State University Business Ethics professor says this will be a serious and lengthy investigation and tough for fans.

"We have a well liked, well respected well known athlete that no one would want to believe is capable of this type of behavior,” said Wendy Patrick, PhD.

No one has been charged in the case.

The Journal characterizes the investigation as a “major insider trading probe.” According the Times the probe includes billionaire investor Carl Icahn and well-known Las Vegas gambler William T. Walters who may have passed on information to Mickelson.

"They want to distinguish between if this is just a coincidence or is this someone getting lucky. Or is this someone receiving insider tips that the well-timed trades were very well calculated based on insider information,” said Patrick.

Mickelson is playing in a golf tournament in Dublin, Ohio.

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