Billy Walters Arrested

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April 8th, 2017 at 5:52:30 AM permalink

Quote: terapined
Guilty
His Statement

"To say that I was surprised would be the understatement of my life. I just did lose the biggest bet of my life. Frankly, I am in total shock."

Sentencing is scheduled for July 14

Yes, on ten counts of conspiracy, securities fraud, and wire fraud. It didn't take long, and it become obvious that it wasn't a close call on the evidence. If his "shock" remark was actually a rare truthful statement from him, rather than blowing his usual well practiced Billy, Inc. PR smoke, then he's become delusional. Which might be an improvement in his character.

http://lasvegas.cbslocal.com/2017/04/07/vegas-gambler-tied-to-phil-mickelson-convicted-of-insider-trading/

And congrats to the AP reporters for writing it straight, unlike some of the local hacks in the past. without the local imbecile bait of trumpeting his flimsy line of bullshit peddling the infantile fantasy that his wealth actually has something to do with this huckster being a brilliant sports bettor. His money comes from looting the public treasury, stealing money from local government and education through rezoning>sale>re-rezoning>re-sale land scams greased by doling out bribes... er, ah, make that civic minded "golf course developments" and the like. on formerly public land that later always seems to get quietly "re-purposed" after the public assets are turned over to him for virtually nothing *ahem*cough*snort*

Quote: AssociatedPress
...said Walters made over $40 million illegally from 2008 to 2015 trading on the stock of...

...has built a sprawling business of auto dealerships, car rental agencies and golf courses worth hundreds of millions of dollars...

Given the many thousands of kids that are much less likely to be able to read and calculate competently because learning resources are depleted in order to line his pockets, the several millions of people who frequently can't get from there to there because Billy Walters' scams sucked away funding for timely completion of essential transportation projects, the severely disabled people that will get no training and help, the homes and neighborhoods that get needlessly flooded due to the derailed drainage projects.... all things considered, with the total lifelong magnitude of harm done by this lowlife being much greater affecting so many more people than a lot of garden variety robbing & murdering street creeps, I truly sincerely hope this very rich elderly scumbag never does manage to leave his cage, and dies in prison, making the world a better place by not being in it.

Last edited by: DrawingDead on Apr 8, 2017

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DRich

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April 8th, 2017 at 7:31:26 AM permalink

Of course there will be an appeal. The next bet has to be will he try and jump bail?

At my age, a "Life In Prison" sentence is not much of a deterrent.

lilredrooster

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April 8th, 2017 at 8:17:14 AM permalink

I'm not commenting on the Walters case, but to me, it is very difficult to understand what is and what is not insider trading. It is the job of analysts at the big investment banks to pump corporate execs for info and then pass along buy or sell recommendations. In some cases it is very clear cut; for example if a drug company exec somehow knew that his company's new drug which has great potential for sales will be approved or rejected 3 days before the FDA decision is announced. But in many other instances it is very unclear. Its not in fashion to feel sympathy for Wall Street guys but actually I do if the Fed is after them and they are doing what they see as being their job. The Feds are like King Kong. You are really in for a bruising if they want to mess with you.

the foolish sayings of a rich man often pass for words of wisdom by the fools around him

DrawingDead

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April 8th, 2017 at 8:56:37 AM permalink

Quote: DRich
Of course there will be an appeal. The next bet has to be will he try and jump bail?

Yes, and he's got the money to make that appeal a complex (long) one. But I don't know about the bail jumping. I think not if it involves being obscure somewhere. Doesn't seem to me to fit with this guy who has been so invested for so long in manufacturing what people think of him, and making sure that they DO think of him, a guy whose life has been manipulating others to buy into him, who seems to live for creating a spectacular facade, who first made himself into a mega-car salesman, for years has constantly 'invested' in creating an image as the most stupendously brilliant epic super-success beyond God's own wildest dreams of brilliant success... I dunno. Can you skip out on Federal bail to somewhere while directing personal publicists in the greasing of an army of media flacks? I get the impression he's the sort who'd pretty much die by just going *poof* into a pile of dust if he ever had to live in comfortable obscurity as Mr. William Anonymous Nobody, Jr.

And besides not putting himself on a public pedestal for awesome success and breathtaking brilliance, I imagine he'd also need to trim his conspicuous world's most nicest guy that's a nicer guy than all nice guys put together plus the ghost of Ghandi + Saint Mary routine. The one with the heavily publicized contributions to charities that he finds time to make, somehow in between his busy schedule of buying the most ludicrous ostentatious mansions (plural - many of them) with the money ultimately ripped-off from those needing the help of those charities. Here are just a few of them, among many in his busy "everybody MUST look UP at MY huge mansion" collection:

Is this a guy who can stand to be just a man among men & women, albeit mysteriously more comfortable, while being a commoner instead of up in lights as One Who Is Too Stupendous for Mere Kings & Tsars? You can employ people to publicize yourself as Greater Than Zeus (and modest about it) from prison.

With his great "aw-shucks" salesman's gift of gab, and enough buried loot, maybe he could swing a deal for buying a small island country? With no extradition to anywhere ever as the dominant legal principal above all, or willing to get that way. And sufficient technical infrastructure to broadcast worldwide how brilliantly clandestine he is. And a landing strip for some of his planes, and room for the lesser aircraft of the info-tainment industry people who can film more of his scripts describing how he's so very cleverly under the radar.

Edit-ADDENDUM:

Quote: lilredrooster
But in many other instances it is very unclear.

With bolded empahsis added by me in quoting you: I agree.

There does seem to me to be an insufficiently defined continuum among the insider trading prosecutions I've read about, with some being pretty damn clear I think to any reasonable person who was born with even a slightly intact ethical compass, some others where the prosecutorial conduct personally creeps me out a whole lot more than whatever vague transgression of uncertain effect was allegedly involved, and a fair number that seem kinda squishy in-between. For what it may be worth (and I don't have the expertise to know how much worth that may be) the government (US Justice Dept. and the much worse NY State Atty Gen'l political-publicity hound) have both lost some high profile insider trading cases, or had so much of their wannabe case tossed out pre-trial that they apparently decided to "win" some of them by settling in a civil compromise for what seemed to amount to a half empty bowl of pistachios on the desk of a mail clerk, and a promise that they won't do what they may not have done, so that something that perhaps didn't happen will never happen again.

But this isn't that. Not overzealous or squishy or something any shcoolchild would have a hard time recognizing as just plain crooks being crooked. I should plainly state that I've deeply despised this smarmy creep for a long time, for a very long list of reasons that predate these crimes and were not part of this particular case. So I'm disqualified for this jury 'cause I'd already be eager to hang the scum before lunch on day one for everything else. This isn't his first, second, or third rodeo being known as "the defendant" and anyone who has paid even slight attention to the rancid shameless corruption of the Southern Nevada political machine, in which Walters is a honcho, can't help being aware that there would be hundreds of felony counts putting him away to the end of time if not for his ability to make himself untouchable royalty for decades through his influence (*ahem* cash money) in that machine.

Last edited by: DrawingDead on Apr 8, 2017

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NokTang

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June 4th, 2017 at 11:05:22 PM permalink

Quote: DrawingDead
Yes, and he's got the money to make that appeal a complex (long) one. But I don't know about the bail jumping. I think not if it involves being obscure somewhere. Doesn't seem to me to fit with this guy who has been so invested for so long in manufacturing what people think of him, and making sure that they DO think of him, a guy whose life has been manipulating others to buy into him, who seems to live for creating a spectacular facade, who first made himself into a mega-car salesman, for years has constantly 'invested' in creating an image as the most stupendously brilliant epic super-success beyond God's own wildest dreams of brilliant success...

All this anger and disdain over one wrong football pick? Who was it he told you to bet on?

Fleeing the country is certainly in the cards. He's got the money and life in the Caribbean beats even a country club Federal Prison. The guy is 70. God Bless You and better luck. OO.

DrawingDead

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June 5th, 2017 at 12:04:24 AM permalink

Quote: NokTang
Who was it he told you to bet on?

Two words: Australian tennis.

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lilredrooster

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June 5th, 2017 at 12:23:52 AM permalink

Quote: DRich
Of course there will be an appeal.

the feds are saying he doesn't deserve an appeal because he has no new evidence. they are saying that his request for an appeal is doomed. of course, them saying this is obviously posturing for the media hoping to influence the process. not a lawyer, but their logic seems sound. on the other side it's hard to believe that multi million dollar lawyers wearing $2K suits won't be able to find a way to junk up the system. the crooked Governor of Va. mcdonnell got an appeal and got off and the crooked state senator in ny sheldon silver is trying to use mcdonnell's arguments to get an appeal so he can resume his soft life. but they were politicians. even more crooked than walters and much more powerful.

https://www.law360.com/articles/929158/feds-say-billy-walters-retrial-bid-is-doomed

the foolish sayings of a rich man often pass for words of wisdom by the fools around him

DrawingDead

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June 5th, 2017 at 12:53:44 AM permalink

I think I'd mostly agree with that. But something folks not familiar with the local machine may not know is that for Las Vegas, Clark County, and some statewide Nevada politicians and public officials, Walters is either known as "Sir" or else addressed by the longer version "Yessir." That said, this is in Federal jurisdiction; the only reason it didn't get quashed over lunch.

Suck dope, watch TV, make up stuff, be somebody on the internet.

billryan

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June 5th, 2017 at 1:35:55 AM permalink

I seem to recall that he has a lease on some of the land needed for the Raiders stadium.

The older I get, the better I recall things that never happened

NokTang

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June 5th, 2017 at 5:35:59 AM permalink

Quote: lilredrooster
the feds are saying he doesn't deserve an appeal because he has no new evidence. they are saying that his request for an appeal is doomed. of course, them saying this is obviously posturing for the media hoping to influence the process. not a lawyer, but their logic seems sound. on the other side it's hard to believe that multi million dollar lawyers wearing $2K suits won't be able to find a way to junk up the system. the crooked Governor of Va. mcdonnell got an appeal and got off and the crooked state senator in ny sheldon silver is trying to use mcdonnell's arguments to get an appeal so he can resume his soft life. but they were politicians. even more crooked than walters and much more powerful.

https://www.law360.com/articles/929158/feds-say-billy-walters-retrial-bid-is-doomed

Thanks for your post and the link. However, that was related to a motion for a new trial, not an appeal of the verdict to the appellate court. God Bless You and OO.

Law360, New York (May 26, 2017, 8:13 PM EDT) -- Manhattan federal prosecutors said in court papers Friday that prominent gambler Billy Walters' request for a new insider trading trial because former Dean Foods Chairman Tom Davis allegedly perjured himself is no more than a rehash of failed arguments presented during summation that is doomed without new evidence.

The government said that Walters cannot show, based on the evidence presented, that Davis knowingly lied about when Walters gave him a burner phone � the "Batphone" � to pass on inside information, saying that if Davis was...

DRich

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June 5th, 2017 at 6:42:26 AM permalink

Quote: billryan
I seem to recall that he has a lease on some of the land needed for the Raiders stadium.

That was the Bali Hai golf course site. I don't believe he has any interest in the new site that was selected.

At my age, a "Life In Prison" sentence is not much of a deterrent.

DRich

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July 17th, 2017 at 7:31:51 PM permalink

Anybody heard anything about Billy Walters sentencing? I thought it was going to be in July but I haven't seen anything in the news.

I can't imagine he bought his way out of this one.

At my age, a "Life In Prison" sentence is not much of a deterrent.

rxwine

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July 17th, 2017 at 7:43:19 PM permalink

From July 12th

https://www.law360.com/articles/943520/no-new-insider-trading-trial-for-gambler-billy-waters

Sanitized for Your Protection

NokTang

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July 17th, 2017 at 9:46:36 PM permalink

As Charlie Manson said best..."There is sex in prison"....while we all doubt a wealthy guy convicted of white collar crimes will do real time in a real prison, he still might learn a thing or two in whatever country club he spends most of the rest of his life.

DRich

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July 24th, 2017 at 12:46:59 PM permalink

Prosecutors asking for 10 year jail sentence while Billy Walters attorneys suggested one year. We should know on Friday.

https://www.bloomberg.com/news/articles/2017-07-21/gambler-billy-walters-should-be-jailed-for-10-years-u-s-says

At my age, a "Life In Prison" sentence is not much of a deterrent.

mrsuit31

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July 27th, 2017 at 2:28:14 PM permalink

5 years & $10,000,000.00

Supposed to report to prison on Oct. 10...

.

GWAE

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July 27th, 2017 at 4:50:23 PM permalink

Wow that is crazy. So who gets the 10 mil? And I wonder if 10 mil even does anything to him or is he that wealthy still? I would gladly do 5 years and pay a fine if I came out to 30 mil in the bank.

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mrsuit31

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July 27th, 2017 at 5:33:09 PM permalink

Quote: GWAE
I would gladly do 5 years and pay a fine if I came out to 30 mil in the bank.

And that's if he serves the full sentence, which he likely won't...

.

Keyser

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July 27th, 2017 at 5:33:28 PM permalink

So when is he eligible for parole?

Six months? One year?

I bet a medical problem arises and he's out in 30 to 60 days.

DRich

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July 27th, 2017 at 8:00:16 PM permalink

Quote: GWAE
I would gladly do 5 years and pay a fine if I came out to 30 mil in the bank.

That may not be the case if you are 71 years old like Walters.

The $10 million is not going to harm him very much. With his business interests I would guess his net worth will still be north of $50 million.

At my age, a "Life In Prison" sentence is not much of a deterrent.

Wizardofnothing

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July 27th, 2017 at 8:02:10 PM permalink

No parole in the federal system . He will do 85 percent . 6 months short of the 85 percent he can apply for a hallway house: He will will go to a camp. The ten million won't effect him as he can prolly pay it out. That being said I wouldn't want to do 4 years at his age for any amount of money

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Ibeatyouraces

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July 27th, 2017 at 8:59:28 PM permalink

He's going in and OJ is getting out. Something wrong with this picture.

DUHHIIIIIIIII HEARD THAT!

lilredrooster

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July 28th, 2017 at 4:36:53 AM permalink

i think age is a big factor in sentencing although i don't think it is mentioned in sentencing guidelines. i think it still greatly influences judges. there is a big difference between a man age 26 getting 10 years and a man age 71 (walters) getting 10 years in terms of how the sentence impacts their future if any.

Last edited by: lilredrooster on Jul 28, 2017

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MrV

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July 28th, 2017 at 9:02:18 AM permalink

I wonder if Billy will attempt to keep up with his sports betting while in jail?

Do they allow guys like him regular access to phones and / or computers, most especially if he winds up in a lighter security "country club" lock up?

It is weird that he has no wiki article about him.

"What, me worry?"

Keyser

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July 28th, 2017 at 9:41:56 AM permalink

Between now and then he'll have a heart attack like condition and will be deemed to weak for prison.

DRich

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October 17th, 2017 at 3:32:14 PM permalink

Quote: Wizardofnothing
Lol. Since its only 100 I'll take even money

Billy Walters has entered prison. I believe you owe me $100.

At my age, a "Life In Prison" sentence is not much of a deterrent.

Keeneone

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October 17th, 2017 at 4:00:43 PM permalink

Register # 25880-048
https://www.bop.gov/inmateloc/

https://www.bop.gov/locations/institutions/pen/

dglscorrigan

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March 8th, 2018 at 5:38:28 PM permalink

Billy Walters serving 5 years, Phil Mickelson wins tournament. Billy guilty of insider trading, so was Phil. Billy, go to jail. Phil, just give the money back.

lilredrooster

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March 9th, 2018 at 2:27:51 AM permalink

Quote: dglscorrigan
Billy Walters serving 5 years, Phil Mickelson wins tournament. Billy guilty of insider trading, so was Phil. Billy, go to jail. Phil, just give the money back.

Mickelson cooperated and I believe has no priors.

Billy maintained innocence and has been charged but not convicted by the Feds more than once; I think both times were for tax evasion. The Feds badly wanted to nail him this time.

Billy is about as innocent as Stormy Daniels.

the foolish sayings of a rich man often pass for words of wisdom by the fools around him

GWAE

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March 9th, 2018 at 2:30:15 AM permalink

Quote: DRich
Billy Walters has entered prison. I believe you owe me $100.

Good luck with that.

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WatchMeWin

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March 9th, 2018 at 5:19:55 AM permalink

.....and Carl Icahn escapes unscathed. I wonder how Billy got those tips!

'Winners hit n run... Losers stick around'

Nathan

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March 9th, 2018 at 6:02:22 AM permalink

Quote: GWAE
Good luck with that.

I wonder of the reinforcements(I'm not sure of the right word in this case, maybe it's ramifications) making a bet online with someone you don't actually know in the real world.

In both The Hunger Games and in gambling, may the odds be ever in your favor. :D "Man Babes" #AxelFabulous "Olive oil is processed but it only has one ingredient, olive oil."-Even Bob, March 27/28th. :D The 2 year war is over! Woo-hoo! :D I sometimes speak in metaphors. ;) Remember this. ;) Crack the code. :D 8.9.13.25.14.1.13.5.9.19.14.1.20.8.1.14! :D "For about the 4096th time, let me offer a radical idea to those of you who don't like Nathan -- block her and don't visit Nathan's Corner. What is so complicated about it?" Wizard, August 21st. :D

DRich

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March 9th, 2018 at 7:20:39 AM permalink

Quote: GWAE
Good luck with that.

I already collected on that before he was banned.

At my age, a "Life In Prison" sentence is not much of a deterrent.

GWAE

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March 9th, 2018 at 3:28:35 PM permalink

Quote: DRich
I already collected on that before he was banned.

That's terrific. I didn't realize that post was old. I thought you just wrote it.

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dglscorrigan

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March 9th, 2018 at 7:17:04 PM permalink

Quote: lilredrooster
Mickelson cooperated and I believe has no priors.

Billy maintained innocence and has been charged but not convicted by the Feds more than once; I think both times were for tax evasion. The Feds badly wanted to nail him this time.

Billy is about as innocent as Stormy Daniels.

Co-operated ? Phil told the court that if called by the defense or prosecution, he would take the 5th to any all all questions. And as is the custom of that federal court, his lawyers could inform the court and Phil would not have to even appear in court.

The Feds had a hot nut for sure. 30 years ago a jury cleared him on 64 charges related to gambling. In Las Vegas recently the Feds indited him 3 times on money laundering, then dropped charges.

mcallister3200

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May 25th, 2024 at 3:45:35 PM permalink

Didn�t want to start a new thread so putting here.

If you want to read/purchase his book �secrets of a life at risk,� I would NOT recommend getting the audiobook. He narrates it himself, and Billy had a thick Kentucky drawl. Not sure yet whether I�m gonna suffer past the intro, get the regular book, or fuhgettaboudit.

DRich