phil mickelson owed the gambler money. that's why the trade happened.he gambler passed him a tip and said, hey, want to trade in dean foods. phil mickelson made the trade, profited about $931,000 on the single trade. then allegedly repaid his gambling debt. this is all about gambling, golf and business lifestyle all three men participated in to one degree or another. >> we'll hear more about the case. thank you. >> you bet. >> television network executives are presenting the fall schedules to a host of advertisers. hoping to lure in more ad dollars. these up fronts as they are called mark an important time of year for broadcasters battling back against the fast growing digital world. according to julia borsen this time around what's old is new again. >> television giants wrapping up the up fronts expect a 5% increase in ad dollars. that's the first increase in five years amid a seismic shift in the way people consume content. judging from the network plans released this week in the up fronts, content is king. >> advertisers know to get the reach of tele

in one week phil mickelson make a profit of -- >> it doesn't matter. you could make 100 million. anything wrong -- i said originally mickelson did nothing wrong a year ago. >> here's another reason why. they don't have any evidence that when waters told mickelson anything other than buy the stock, that's number one. number two, they don't have any benefit where mickelson is paying back walters. >> excellent point, because the second circuit case that everybody talks about, newman, big deal, says that if charlie gives me a tip, i have to know as a receiver that he's getting the benefit. liz: but, doug, doesn't it look strange to you that phil owed this gambler money? >> he's a gambler, so what? liz: he has 79 million in career earnings -- >> he's worth $200 million. >> okay, fine, so the guy gives him -- >> here's the thing. under the law it doesn't matter that he owes him. mickelson is -- why is walters giving him the benefit? in order for this -- >> because he's owed money. liz: he wants to get paid back. >> that's what it is. >> there's no benefit. >> there is a benefit, he's g

it's the nearly $1 million he made based on what the scc calls insider information which has phil mickelsonugh. four years ago mickelson got a tip about a well-known sports better in las vegas mickelson owed money to and walters' tip was based on insider information, mickelson may not have known that but went all in. >> based on these december kiis he bought $2.4 million in the stock. >> that $2.4 million he put in according to this complaint from the scc was nearly ten times anything he had already had in his stock portfolio. they are claiming he had $250,000 in his stock account, brokering account. the shares popped 40% and mickelson sold the shares and paid off his debt. they are calling him a relief defendant which means he has to return the money, a little over $1 million. he's doing that but not being charged with insider trading. officials were repeatedly asked if he's getting special treatment. they say that's not the case. they just don't have evidence they knew this was bad information. mickelson released a statement regret for falling short of the high values he shares with the p

goter phil mickelson insider information from dean foods. this when wew return on "bloomberg markets." ♪ mark: live from london and new york. betty: this is the european close. fiat chrysler recalling about 500,000 jeep wrangler suvs worldwide. the recall covers wranglers from the 2007-2010 model years. they are not aware of any injuries blamed on the problem. its car sharing service to boston, chicago and washington. chargeser to zip car eight dollars an hour. that is your bloomberg business flash for this hour. mark: deutsche bank holding its investor meeting in frankfurt today. said he is committed to the securities trading business. investor sentiment was rather mixed. >> if you make a record loss, positive --tart off at the same time, coming back to shareholders saying we have a new system and we want you to approve it. there was not enough concentration to shareholders. >> we want some answers on our corrections where deutsche bank is spending in five years. deutsche bank seems to be a large restructuring unit. where does the banking b

and golf champion phil mickelson hits plenty of green with some stock trades on dean foods. he will have to pay that $1 million in an sec settlement that has led to criminal charges ,or the former dean foods ceo big-time gambler. markets close in about two hours, and stocks are down but off their lows. another day of weakness across the board. we're talking about all sectors. on concerns the fed will height -- hike rates next month. concerns they will be more pressure on an already sluggish global economy. we are now seeing the dow jones come down .7%. the s&p 500 down .6%. the s&p has been in the negative all day today. .t has not been doing great at one point, it was down more than 1%. it has pulled back some of its earlier losses. i want to take you through some of the individual sectors, and you can see that financials and the tech sector are now down today, but after the rally we saw yesterday, remember, the only point since 2000 nine did we see bankshares gain as much as they did yesterday, just outperforming the broader gauge, but today, coming down from those highs,

. >> we have a statement from phil mickels mickelson's attorney who says that phil is not charged with insider trading and phil is an innocent bi-stander to others that he was doing something that is not something that he was aware of, but they say it is a tip from gambler billy walters who was receiving information from the former dean foods' chairman thomas davis who is suffering financial difficulties and received some loans from walters and allegedly tipping walters to insooider informatio about the dean foods at several different corporate events. walters made trades on those and took advantage of the information in other ways according to the u.s. government, and there is a lot here sh, melissa, and we will g to the bottom of it as soon as we get the bottom of it. >> and this is a long running crime, eamon, because it is between 2008 and 2014, and during this time frame, according to the allegations, walters made $32 million and avoided $11 million in trading losses. >> there is a lot more coming out of the documents released so far this morn, and including the scheme that were a

authorities say walters passed on one of those tips to phil mickelson who owed him money. they say mickelson made $931,000 on a stock trade and used the proceeds to pay off walters. >> when the board member of a fortune 500 company feeds inside information to a professional gambler who makes a killing on well time trades in that very company stock, that is a form of corruption. >> now, phil mickelson will not face charges and the former director has already pled guilty in the case and is cooperating with the investigation. as for william walters, he was arrested on wednesday in las vegas. >>> it's 4:17. want to go right out to sal and, unfortunately, we are starting with a fatal accident on the bay bridge. >> that's right. eastbound bay bridge, dave and pam, there is a crash blocking the three right lanes. now, we have traffic that is going to be slow -- or not that slow, actually, because it's so early but you can see the deadly crash scene right there on the bay bridge before treasure island. now, we did get video of the crash scene from about 30 minutes ago, ktvu reporte

a block esther insider trading the head of dean foods and phil mickelson.will bring you all the details of this fascinating case. we will be back. ♪ betty: this is bloomberg markets. i'm betty liu. coming off of our lows of the session, kind of climbing down a little bit. the s&p lower high .3%. erased the gains for the year. time for the bloomberg business lash and a look at the biggest business stories in the news right now. saudi arabia said to sell its first bonds and the international capital markets, looking for foreign financing to like it was it -- to plug it budget deficit. they are said to have said invitations to tanks to arrange a sale and expect an issue of a significant amount. banks are expected to respond next week. it will probably take place after the muslim month of ramadan. union credit is considering a sale in its stake of financial bank and reviewing its holdings in turkey. unicredit is looking at measures including selling as much as 50% of one company. they are looking to replace the ceo who has repeatedly ruled out a share sale. esp

now, how phil mickelson gets dragged into all this, the professional golfer, the s.e.c. him as a relief defendant in a civil suit that was unsealed earlier today. s.e.c. says mickelson profited by up to $931,000 as a result of a tip he received from gambler billy walters. but phil mickelson's attorney put out a statement saying that mickelson feels vindicated he's not being accused of violating the securities laws in anyway. what the government said was that fill mickelson benefitted from the tip here but he's going to have to turn over the ill-gotten gains of the profits from that tip but that he himself is not being charged with violating securities laws. >> it seems lenient. he just has to pay back the money. he doesn't face accusations of wrongdoing. so he did this by mistake, he didn't know he was profiting from insider trading? >> authorities were faced with that press conference again and again by reporters today saying, hey, look, aren't you favoring the famous golf celebrity by letting him off with paying back the money but what they kept coming back to again and

phil mickelson will give up his games after securities and exchange commission investigation. ey say mickelson unfairly earned the money through his connections with a well-known sports gambler. the case that could damage phil mickelson's image. >> good morning. phil mickelson was not criminally charged in the case but he was named as relief defendant in the civil lawsuit by s.e.c. that means while he's not accused of wrongdoing, he still allegedly benefited from the illegal action of others. now authorities want all of those ill gotten gains back. >> decisions on the golf course have made phil mickelson one of the world's most successful athletes. >> that's what you would expect from phil. he'll take a chance, a little risky. sometimes he gets the reward, sometimes he doesn't. >> reporter: but authorities say back in 2012, the golfer acted on a tip from famed sports better william "billy" walker about the stock. mickelson owed walker money at the time. about a week later when the stock skyrocketed, mickelson pocketed a million dollars, some of which he gave back to walters. >>

liz: he was in debt, you know that. >> phil mickelson is not in debt.d debt, that's what they said. >> he owed money to walters. liz: isn't that called i have debt. >> no, because he's worth 200 million dollars. liz: career earnings, 79 million. >> okay. no, but he has a net worth of something close to 200 million. liz: he doesn't have to worry, he just paid back the million he made. >> probably keeps it in his pocket, a million dollars. liz: golf digest doing that article. >> isn't it odd the markets aren't selling off of the great news in washington. liz: ashley was telling you and for those of you just joining us, peter barnes too, there has been a shooting according to the "washington post," a person shot and wounded in critical condition now outside the white house. peter, we didn't see a lot of reaction with the markets, the dow is still up 47, 48 points what it was before then. give us what you know now? >> first and foremost want to say that the president is not at the white house, as you just said, liz, he is at joint base andrews, left the whi

from phil mickelson himself.y lengthy. several parra graphs long. let me read you the highlights of what phil mickelson has to say. the sec has now completed its investigation into the investment and concluded that phil mickelson did not engage in any wrongdoing. the sec filed a civil complaint against certain individuals including an acquaintance of phil's but that complaint does not assert that phil mickelson violated the securities laws in any way. on that point, phil feels vindicated. he also says here that he's going to return all of the money from the particular transaction in 2012 and he says phil understands and deeply respects the high professional and ethical standards that companies he represents expect of their employees. so that's a statement from phil mickelson. we'll wait to see what more detail we get on this at noon. back to you. >> all right. thank you for the update. >>> take another look at walmart. it having the best day, biggest one day jump since october 2008. it's up almost 9% helping the

given the amount of money we saw how much phil mickelson makes every year.nk of it as the thrill of taking the chance. phil mickelson was doing these trades because he owed billy walters money to pay off debts. if you are making $40 million you don't need to manipulate your stock. the potential of how big the debt was that you are selling off stock. maria: the chairman pleaded guilty, cooperating against walters and walters was arrested wednesday in vegas. on multiple criminal charges going to the journal. >> there is a certain excitement in getting a tip and being successful. you have to assume phil mickelson had successful stock tips and there is a certain thrill about it. if someone says you should buy the stock. it is up 100%. dagen: from weird places all we need is a new pair of shoes. people bet on that. maria: we will be watching. a good analysis. ray kelly will join the team to weigh in on the fast-moving situation out of egypt. the founder of the world record-breaking auction house julian's auctions will join me with a sneak peek of hundreds of icon

it involves phil mickelson.im, hit him with charges, phil mickelson discouraging over $900,000, phil mickelson to have owed money to legendary sports bidder, billie walters. so billie walters gets a tip and has been criminally charged by the doj from dean foods chairman, dean foods is going to do a spin-off. this happened in 2012. phil mickelson takes 2.4 million-dollar position in it, gains about $931,000 in profits. phil mickelson saying, yes, he will discourage those profits stuart: sad to see a great golfer like that dragged into the situation. check the big board. close to the low. down 190 points. that is the low of the day. how about walmart? the sell off could be -- it would be actually the sell off on the dow would be more than 200 points if it wasn't for this stock. walmart is a dow stock up a whopping 9%. so that's mitigating the loss for the dow jones industrial average. here's what's next. much more on the egypt flight. we have someone from a trump super pac. he's going to be with us. trump's got mo

>> reporter: off the course, phil mickelson finds himself in unchartered territory. >> i'm phil mickelson> reporter: the s.e.c. looking into how the successful pitchman made an almost $1 million profit from stock in nearly one day. >> simply put, mickelson made money that wasn't his to make. when you make money that you're not entitled to, you should not get to keep it. we have not charged him with insider trading. >> reporter: it all stems from a stock tip he received in 2012 from friend and noted gambler billy walters. walters allegedly telling mickelson to invest in dean foods. the problem? walters' tip was allegedly the result of inside information he received from thomas davis, the now former chairman of dean foods. mickelson has agreed to pay back the full amount with interest. mickelson reps telling abc news overnight he feels vindicated but takes full responsibility for the decision and associations that led him to becoming part of this investigation. phil mickelson has not been accused of any criminal wrongdoi. he was not charged with insider trading. his spokesperson telling abc

phil mickelson accused of making a nearly million dollar profit on a stock tip he should not have gotten this morning securities and exchange commission says it is dropping its investigation as mickelson gives his profits to the s.e.c. dean foods own berkeley farms here in the bay. this guy from horm he'll is really going to close that bell. uber's eventual plan is to replace drivers with robots. we talked in the past about automation replacing lots of jobs. technology costs are coming down at the same time labor costs are going up. you're starting to see self-serve technology. chili's uses a self-ordering kiosk. they don't replace the waiter, but they serve more tables. we are getting so used to this idea of self-serve. you do it all the time at the grocery store. you would go into mcdonald's and see burger, fries, whatever, doesn't seem that strange. >> exactly. >> we were saying a second ago it's amazing it's taken this long for restaurants to be using this technology because it's not that advanced. >> it's been in grocery stores for years. >> two all beef patties, special sauce, lett

anthony mason is here with the case that could damage phil mickelson's image. ony, good morning. >> reporter: good morning. mickelson has not been criminally charged in the case, but he was named as a relief defendant in a civil lawsuit by the sec. that means while he's not accused of wrongdoing, he still allegedly benefited from the illegal action of others. now authorities want all of those ill-gotten gains back. decisions on the golf course have made phil mickelson one of the world's most successful athletes. >> that's what you would expect from phil. he'll take a chance, just a little risky, sometimes he gets the reward. >> reporter: authorities say in 2012, the golfer acted on a tip from famed sports better william "billy" walters about dean food stock. mickelson owe wdrsalte money at the time. a week later when the stock skyrocketed, mickelson pocketed nearly $1 million. some of which he paid back to walt walters. >> simply put, mickelson made moon that wasn't his to make. >> reporter: the details emerged thursday as the sec slapped warlts and former dean

has announced that golfer phil mickelson won't be criminally charged for his part in insider trading. it centers around the alleged insider trading of stock of dairy country dean foods and based on the tip, mickelson bought 240,000 shares of the company and made nearly $1 million. he was charged as a release defendant and has agreed to pay back all ill-gotten gains. a spokesperson said the golfer takes full responsibility and is pleased that the is over. mickelson who was inducted into the world golf hall of fame in 2011 has a reputation of being an avid gambler. >>> things got ugly on the house floor thursday. it happened during a vote on an amendment that would have barred hiring federal contractors who discriminate against the lgbt community. the vote was scheduled for two minutes and looked like it was going to pass but the clock do not stop. it was held open for an additional six minutes while their own to switch their vote. in the end the measure was devoted by a single vote. this is how democrats reacted. they are chanting shame, shame. the amendment sponsored democrat sean pat

three-time masters champion phil mickelson is to return profits he made from trading on inside information12. he picked up almost a million dollars by acting on a tip from a gambler. wrongdoing,cused of but the money can be recovered. phil mickelson says he feels the indicated and does not want to benefit from a transaction deemed questionable. powered by over 2400 journalists and 150 bureaus around the world, this is bloomberg news. rishaad: now japan has had negative interest rates for three months. we are having a look at how the big banks are faring, some key charts in the bloomberg. you're watching "trending business". ♪ rishaad: you are back with me. months after japan adopted negative interest rates, we are seeing what impact it is having. apparently it does not look that pretty. make a banks plunging as they forecast profits and bad debts on the up. seeinge: the megabanks their loans slow and margins narrowing and bad debts rising. this chart shows you the provision set aside for bad loans from japan's three biggest lenders. mitsubishi u.s. j, represented blue, and yellow. they hav

they were being tested, they missed most prohibitive items. >> we brought it thursday, golfer phil mickelson settled a case with the securities and exchange commission over acquisitions he made nearly $1 million on insider information involving dean foods. dean owns berkeley farms in the bay area. mickelson will pay the money he made to the s.e.c. around will not face further charges. one person who will never settle is landon dowdy live at cnbc world headquarters. >> good friday morning. wall street will try to rebound from another day of losses. stocks falling thursday on mounting fears that the federal reserve could raise interest rates as early as next month. the s&p index, broadest measure of the markets dropping into negative territory for the year. the dow dropping 91 points to 17,435. nasdaq down 26. >> i told to you get this on your calendar. i'm giving you a reminder, this weekend is the maker faire at san mateo fairground. craziness. general admission starts saturday at 10:00. they call it the greatest show and tell on earth. i highly recommend you go. i also highly recommend you

golf superstar phil mickelson information to buy stocks and pay off a gambling debt. this morning, why his sponsors are standing by him, despite the scandal. ♪ we won't stop >>> family reunion. our summer concert series is back, and we're kicking it off right as puff daddy and the family get set to take the stage today, friday, may 20th, 2016. >> announcer: from nbc news, this is "today" with matt lauer and savannah guthrie, live from studio 1a in rockefeller plaza. >>> good morning. welcome to "today" on a friday morning. we're happy to welcome back an annual rite of spring and summer. >> unmistakable sign of summer, the crowd is on the plaza. we'll have puff daddy and the family coming up in our 8:30 half hour. >>> breaking news in the disappearance of egyptair flight 804. just this morning, jets and search have located parts of the plane debris. about 180 miles north of alexandria. >> investigators are operating on a theory that terror brought the plane down, but nothing is being ruled out at this point. no one on the jet's manifest has been found on any terror wat

. >>> golfer phil mickelson make as lot of money playing golf but also made a lot of money off a stock tip. what he is alleged to have done to end up in a legal rut. >>> and your lawn may start looking a bit greener. changes in the water restrictions are coming up. >>> and welcome back to you on this thursday morning. the dow industrial is down 90 points. the markets have had a rough day this morning. part of it is the concern over the egyptair flight. reuters is reporting that the security and commissions is naming phil mickelson in a lawsuit saying he made a million dolla dollars off an inside stock tip from dean foods. the former chairman of the board of dean foods has been accused in a separate lawsuit of passing on insider tips. >>> google's ceo yesterday announced the company would create a competitor to the amazon echo, the voice-activated device. he said the company has done a great job with its product before announcing that google would have its own version. thousands of people braved the heat at shoreline amphitheater for the first day of that conference. it continues today.

the sec says phil mickelson made $3931,000 after getting a stock tip from a netted sports gambler.gators claim he used some of the money to pay the man mikkelson was not charged with a crime. his management group said in part quoting here that he takes full responsibility for the dangerous associations that led him to become part of this investigation. >>> we turn now to another money scandal. back in november, we broke this story about the pentagon shelling out millions of taxpayer dollars to major sports teams including those in the nfl for paid acts an of patriotism. >> now the nfl says it will be returning that money to the taxpayers serena marshall joins us now with the latest from d.c. good morning, serena. >> good morning. that's right. your tax dollars are being refinds for once. those emotional staples at sporting events like unfurling the american flag paid for by the pentagon. nfl commissioner roger goodell admitting his teams charged the military more than $700,000 over four seasons to honor america's audit that followed an abc news report, they'll return that money to

. >>> golfer phil mickelson may be in financial trouble this morning.ornia is now trying to change the face of history - at least when it comes to the textbooks. >>> california right now trying to change the face of history, at least when it comes to our text books. state education panel is going to meet today to consider changes amidst changing demographics in california. 2/3 of students are now either latino or asian. critics say most school curriculums don't account for that diversity. the goal is to create a new framework for history and social studies classes. >> a new federal grant should clear the way to keep california's high-speed rail program on track. they signed an updated grant agreement in california. the deal takes into account recent revisions pushing back the first completion date. calls for $2.5 billion of federal matching funds. high speed rails, overall price tag is $64 billion. >>> rather famous golfer is in a bit of a sand trap financially this morning. >> let's check in with scott mcgrew. >> reuters reporting that the securities a

. >> phil mickelson caught up on an insider trading case accused of using confidential information to buy stocks and pay off a gambling debt. why his sponsors are standing by him despite the scandal. ♪ >> and family reunion. our summer conser series is back kicking it off right as puff daddy and the family get set to take the stage friday, may 20, 2016. >> announcer: from nbc news this is "today" with matt lauer and savannah guthrie live from studio 1a in rockefeller plaza. >>> good morning. welcome to "today" on a friday morning. we're happy to welcome back a rite of spring and summer. >> unmistakable, the crowd, we'll have puff daddy and the family coming up. >> we have a lot to get to, though, including breaking news in the disappearance of egyptair flight 804. the egyptian military just this morning jets and ships taking part in the search located part of the debris, 180 miles north of alexandra. >> investigators are operating on a theory that terror brought this plane down. nothing is ruled out at this point. we do know that no one on the jet's manifest has been found on a terror

says that golfer phil mickelson raised profits by trading in dean food s after a stock trading tip fromer mick walters. ta will discuss penalties for walters and dean foods at noon. >>> and sports authority is going out of business. once the nation's largest sporting retailer are will shut down all of the remaining 450 stores after failing to find a buyer for them. you are up to date, and that is the news update at this hour. back to you. >> thank you, sue. and now, back to the update for europe, and it is about as red as our own. >> yes. and the fed caught the down dravt from the fed news, and europe was not open, and it uniformly moved to the downside. and then you have extended the losses in the course of the session, and despite the fact that the egypt plane was traveling like this through europe, it is not the reason that the stock market is down, and i will show you that in a moment. the example, the oil majors, the hea heavyweights in the indices are lower, because oil is lower, and partly, because it is priced in dollars, and if the fed increases rates, then it will move down ov

. >>> breaking news involving professional golfer phil mickelson. why the government filed a complaint against him this morning. >> plus, incredible images of a fiery plane crash. i'll tell you what's more incredible about the story. >> enjoy the sunny and warmer weather because i'm tracking big changes for the weekend. i'll let you know what to expect and when just ahead. >>> boy, check out this photo from the crash of a u.s. air force b-52 bomber on the south pacific island of guam. the plane aborted on takeoff, crashed and caught fire this morning. all seven crew members made it out safely. no one else was hurt. the air force is investigating and taking steps to keep the plane's fuel from contaminating the ground. >> and we have breaking news about one of the world's most famous golfers. the securities and exchange commission named phil mickelson in a complaint involving alleged insider trading. he owed money to a man who received tips and business information about a food company. that man urged mikkelson to trade stock in the food company. the

the third prong of this is phil mickelson. s.e.c. is suing the pro golfer -- i'm going to back you up. he is not actually being sued. a complaint was filed. he has actually agreed to pay back the profits he made, but mickelson says it vindicates him . he's not being charged with anything. he's going to pay it back and he feels completely vindicated. what is unusual about this is they ask for someone to pay back money and did not sue them. that is really quite remarkable. winnie: i think it goes to the heart of how the definition of insider trading has come down to a bottom line these days. on the other hand, the guys who were charged clearly both benefited. davis got the loans, walters got the tips and made a lot of money. mickelson made money, but as to if he knew he was getting information from the inside, none of that was clear. i think in this case, it is the brazen nature of the whole thing. got a prepaid cell phone from walters, and they reached an agreement on how they were going to exchange information. to call dean foods dall

there is new developments at this hour on an insider trading case involving phil mickelson.et the latest. >> also involved here are former dean cr dean foods chairman billy davis and the attorney for the southern district of new york laid out the scale of what he alleged is a fraud here in terms of insider trading. in a press conference in new york a little while ago, here's what he had to say. >> for over five years, davis repeatedly and systemically fed nonpublic information about dean foods to walters who in turn benefited handsomely to the tune of about $43 million in profits made and in losses avoided. from his trading in dean food stock. >> here's what we know. according to documents laid out by the government, the sec earlier today said the charges are against former dean foods chairman thomas davis and billy walters. davis has pleaded guilty and agreed to cooperate. walters, however, his attorney says the accusations are false in this case. davis is charged with tipping walters off to a spinoff from dean foods of white wave foods and organic entity and other corporat

. >>> professional golfer, phil mickelson is trending on twitter for agreeing to forfeit nearly $1 millione earned. they received tips from the former director. and one of those tips was passed along to mickelson who used it to make a lucrative stock trade. the complaint did not show he had violated any security laws. and he is not charged with any crime. >>> also trending today on twitter. a new washington post poll finds nine out of 10 native americans are not offended by the washington redskins name. the poll sampled 504 random the country. >>> and now, for a check of our weather. a little sunshine. like you said. we were supposed to see some and we did. >> we did. and see, all day tomorrow. won't have to wait for it tomorrow. but then, don't get too used to it. i mean, we're gill going to go downhill in a way. feel pretty good about this. i lowered it from 70 to 69. not sure how smart that was. i think we'll be okay. we'll add up the numbers for you. looking at temperatures. 69 now. that's good. winds out of the south at 8. and really a very, very nice evening. we'll have two nice even

go long™. ♪ deirdre: pro golfer phil mickelson in hot water with the sec. change commission said that mickelson logged illegal trading profits of nearly a million dollars on an insider stock tip. the sec wants the golfer to turn the money over to the entity. he has complied. two others were involved in the trade. they have been charged. sports gambler billy walters and the former chairman of dean foods, thomas davis. so according to the complaint, walters had information from davis about an upcoming spin-off. walters then advised mickelson to buy the stock. with me now, my market's panel, jason ratman and craig smith. welcome to you both. jason, one person gets off slightly easier than the other two. why is that? >> you know, i'm trying to figure that out myself. i mean, when i look at various financial professionals, you know, steve cohn, raj rajaratnam, rajaratnam's in jail right now for doing, essentially, the same thing. maybe on a much larger scale. mickelson, i'm baffledful all mickelson has to do with pay back the money from the trading, and then that

. >> incredible -- >> off the course phil mickelson finds himself in unchartered territory. the fcc looking into how the successful pitch man made an almost $1 million profit off a stock in one day. >> simply put mickelson made money that was not his to make. you shouldn't get to keep it. we have not charged him with insider trading. >> the fcc says it stemmed from a stock tip from friend and gambler billy walters. telling him to invest in a company called dean foods, but walters tip was allegedly from insider information from thomas davis, the former chairman of dean foods. >> mickelson agreed to pay back the full amount with interest. he feels vindicated but takes full responsibility to the decisions and associations that led him to be a part of this investigation. >>> scandal plagued volkswagon agreed to a pay raise for its workers, the industrial union agree the to the wage increase and could help the 19 country euro zone lift inflation from dangerously low levels. they receive a 3.2% on april 1st next year and then another 2% in august. >>> this is the latest concept car

phil mickelson has not been accused of any criminal wrong doing.harged with insider trading. his spokes person telling abc news phil feels vind gated. >> all right, rebecca. thank you very much. >>> coming up on "good morning america," the military veterans climbing mt. everest and the incredible marine becoming the first combat amputee ever to reach the summit. >>> we're counting down to summer. our first party in the park, ariana grande camming up. live. we'll see you there. from bank of america to buy a new gym bag. before earning 1% cash back everywhere, every time and 2% back at the grocery store. even before he got 3% back on gas. kenny used his bankamericard cash rewards credit card to join the wednesday night league. because he loves to play hoops. not jump through them. that's the excitement of rewarding connections. apply online or at a bank of america near you. i'm terhe is.at golf. but i'd like to keep being terr

intersecting with the world of professional golf as the sec claims golfer phil mickelson made $900,000 in one week on insider tip about dean foods. scott, mickelson, we have to emphasize he has not been charged. he will have to pay a penalty but former chairman of the company is in the hot seat. >> doesn't look good for a lot of people involved, david. mickelson, if you google or internet things are going around phil mickelson over the years doesn't surprise me. he is paying it back and not being charged but that is ob shot. david: actual charge, i don't think it is called a charge, lenore, he is relief defendant. he is relief defendant. if he pays back the money, that $900,000 that he earned, they're going to call it even. i never heard of that. had you? >> it is, this is really difficult one to prove he actually knew that he was taking an action based on insider information. that brings up the, there is a lot of challenges around insider trading. david: there are. >> very difficult and those laws really only affect half of the equation because only really apply when people took actio

dropped made it abrupt turns and then crashed in the southeast mediterranean. >> darya: golfer and phil mickelsoning accused of insider trading. the gambler turned mickelson to trade in the dean foods' stock. >> mark: stephen curry flew into the stands with an elbow mass. the warriors a blowout oklahoma 118 to 91. >> reporter: winds and cooler temperatures will, over the next couple of hours. that is would is going to drive everything. reyna will wait until tomorrow. use the '50s and '60s around the bay. from the northwest we have the wind coming. in two of the week and we'll have temperatures in the '70s. >> reporter: we have when seeds in at 22 and san rafael. you can see the winds quite active in to friday when it rained and is projected. in the 7 day forecast we see the upper 60s. we may also say some claps of thunder. a >> robin: at the bay bridge toll plaza the traffic is creeping. it is getting a little better compared to 7:00. 15 to 20 minutes made as to downtown san francisco--maze to let downtown san francisco. on 85 there is an accident adding to cupertino to saratoga to san jose. 30 m

says phil mickelson made $931,000 after getting a stock tip.ickelson used some of the money to pay the man back, money he allegedly owed. so far, not charged with a crime. >>> the second jewel in horse racing's triple crown, the preakness stakes, is tomorrow. nyquist is wearing number 3 tomorrow. >> you might remember the name xaj rart, he was second at the derby. the 11-horse field can expect a sloppy track. rain is in the both horses have to contend with that. >> exaggerator says he'll win it all. >>> one blogger's comments about how the keep your marriage. >>> and one of the most well-known sites in the entire world, the eiffel tower is getting ready to host some overnight guests. stick around. scent from gain. ♪ upbeat music plays everytime she sniffs... this happens. still there... still still there... well that's how you rock a long travel day. new scent duets from gain it's the gain the keeps on keeping on. sniff, sniff, hooray! when your symptoms start... distracting you? doctors recommend taking ...non-drowsy cl