By AJ Perez, USA TODAY
Phil Mickelson must pay the Securities and Exchange Commission nearly $1 million after profiting from an insider trading tip.
The Securities and Exchange Commission named Phil Mickelson in a federal insider trading lawsuit, alleging in court documents filed on Thursday that the five-time major winner made nearly $1 million via information that was not publicly available.
The complaint filed by the SEC in U.S. District Court for the Southern District of New York named Mickelson as a so-called “relief defendant,” meaning the golfer has not been accused of any criminal wrongdoing. Since the case is in civil court, the SEC seeks “all ill-gotten gains in the form of illicit trading profits.”
