Golfer Phil Mickelson Sued By SEC For Insider Trading

Pro golfer Phil Mickelson made nearly $1 million from insider trading when a popular sports gambler gave him a tip about grocery store stock that was about to spike, the Securities and Exchange Commission alleged in a complaint Thursday.

The three-time Masters champion was not criminally charged but named as a "relief defendant" in the complaint. Billy Walters, the gambler, and former chairman of Dean Foods Company Thomas Davis have been hit with criminal charges in the case.

Here's what the SEC said happened with Mickelson.

Walters called him in 2012 and told that Dean Foods was about to be spun-off and that Mickelson should invest in their stock before it jumps, the complaint said. Walters and Mickelson were friends, and Mickelson owed him money, the SEC said.

Mickelson bought the stock the next day. When Dean Foods' stock jumped 40 percent, Mickelson was $931,000 richer, the SEC said.

The SEC is asking Mickelson to pay back the profits he made off of the deal, which his representatives said he would do.

It's not like Mickelson, who turns 48 next month, needs the money. Yahoo estimates that he's made $86,135,360 over the course of his golf career, which includes five major tournament wins.

Image via Jim Epler, Flickr, used under Creative Commons