Sports Betting Legend Billy Walters Pardoned by President Trump

billywalters-rx

Professional sports bettor and gambling legend Billy Walters has received a last minute pardon from outgoing President Donald Trump.

Walters, 74, had been found guilty in April 2017 of insider trading and was sentenced to five years behind bars. He launched an appeal which made it to the US 2nd Circuit Court of Appeals, but the conviction was ultimately upheld. The US Supreme Court declined to hear the case in October 2019.

The case against Walters generated major headlines due to the high-profile nature of Walters’ acquaintances; professional golfer Phil Mickelson was mentioned for his trades in Dean Foods, and for previously owing Walters $2 million. Mickelson was not criminally charged but later agreed to forfeit $1 million in a civil case brought by the SEC.

Walters served part of his sentence at the Federal Prison Camp in Pensacola, Florida, but was released to home confinement on May 1, 2020 due to the coronavirus pandemic. He had been scheduled to serve out his sentence until January 2022 prior to being pardoned by President Trump.

“I am thankful to the President and extremely grateful for the longstanding support of friends and family, especially my wife, Susan,” said Walters in a statement provided to and published by USA Today.

Billy Walters’ net worth was reported to be $100 million as of 2014. He is best known for joining the Computer Group in the 1980s; a sophisticated group of sports bettors who made millions of dollars by using computer data to analyze sports outcomes. He reportedly had just one losing year betting on sports in nearly forty years of wagering on sports.

RX Forum users were quick to comment on the news as it surfaced earlier. Join the discussion by creating a free RX Forum account.

Leave a reply:

Your email address will not be published.