High-roller Billy Walters convicted for insider trading

Posted online April 10, 2017 | 11:24 am

Las Vegas gambler William "Billy" Walters has been convicted for insider trading.

Known as the "most dangerous sports bettor in Nevada," Walters was convicted Friday of making more than $43 million in trades based on inside information he received from a board member of Dean Foods. His sentencing hearing hasn't yet occurred.

Last year, famed golfer Phil Mickelson was ordered to pay $1 million in fines for profiting off a tip from Walters about Dean Foods.

Read more from CNNMoney.

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