May 19, 2016

NEW YORK (AP) The Latest on an SEC insider trading case involving golfer Phil Mickelson (all times local):

7:45 p.m.

A Las Vegas gambler accused of orchestrating an insider trading scheme involving pro golfer Phil Mickelson posted a $1 million bond to be freed from federal custody in Nevada ahead of a June 1 court date in U.S. District Court in New York.

A lawyer for William ''Billy'' Walters presented a $100,000 check in court to secure the bond, and a U.S. magistrate judge ordered Walters to surrender his passport and weapons pending trial on 10 conspiracy and fraud charges.

The 69-year-old Walters could spend the rest of his life in prison and have to surrender the proceeds of the alleged scheme. Prosecutors say he passed inside stock information between a director at a publicly traded food business and Mickelson.

Former Dean Foods Co. board member Thomas Davis pleaded guilty this week in the case and promised to cooperate in the investigation.

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12:25 p.m.

Professional golfer Phil Mickelson has agreed to forfeit nearly $1 million dollars that the Securities And Exchange Commission says he earned in an illegal insider trading scheme.

The SEC says a gambler named William Walters received tips and business information about Dean Foods Co. from former Dean Foods director Thomas Davis between 2008 and 2012.

Authorities say one of those tips was passed along to Mickelson, who made a big, successful stock trade with the information.

Mickelson's management group issued a statement Thursday saying that he had reached an agreement with the SEC to return all of his profit.

The statement says Mickelson ''has no desire to benefit from any transaction that the SEC sees as questionable.''

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10:51 a.m.

The Securities And Exchange Commission is filing a complaint against professional golfer Phil Mickelson related to insider trading.

The SEC says a gambler named William Walters received tips and business information about Dean Foods Co. from former Dean Foods director Thomas Davis between 2008 and 2012.

In 2012, the SEC says Walters called Mickelson, who owed him money, and urged him to trade Dean Foods stock. The SEC says Mickelson did so the next day and made a profit of $931,000.

Mickelson was not in the field of the Byron Nelson Classic in Irving, Texas, where play began Thursday morning. Calls to his representatives were not immediately returned.

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