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Carl Icahn Cited in Billy Walters Trial as Prosecution Pushes for Submission of New proof

Carl Icahn Cited in Billy Walters Trial as Prosecution Pushes for Submission of New proof

As the insider trading trial of Las Vegas gambler Billy Walters swung into its second week on Monday, Carl Icahn's name ended up being once again dragged into proceedings.

Presidential adviser Carl Icahn title has once more been brought up in the Billy Walters case. Federal prosecutors want to introduce evidence that Walters spoke to his friend, Icahn, right before he bought stocks in Clorox in 2011.

Icahn, the billionaire activist investor, owner of the Tropicana Casino and two shuttered former Trump casinos in Atlantic City, and unpaid adviser to your President of the United States, is a buddy of Walters'.

This will be the biggest insider trading instance in years. Walters is accused of earning $43 million from illegal stock market trades on the dairy that is dallas-based Dean Foods. Former Dean Foods president, Tom Davis is accused of feeding privileged information to Walters over a period that is seven-year.

Davis is testifying against his friend that is former as of the plea bargain with federal prosecutors after admitting charges including securities fraud and cable fraud.

It's also alleged that Walters shared insider information, obtained from Davis, along with his friends, including the golfer Phil Mickelson, whose attorneys have said would 'take the fifth' if he were called as witness.

Concerns Around Clorox and Apple Stock

Neither Mickelson nor Icahn are accused of any wrongdoing,