SURVEY: Is Carl Icahn In Trouble Following FBI, SEC Probe?

Rumors continue to circulate around the federal investigation of an insider trading probe surrounding billionaire investor Carl Icahn, golfer Phil Mickelson and gambler Billy Walters.

The Investigation

On Friday, the Wall Street Journal broke the news that the Federal Bureau of Investigation and the Securities and Exchange Commission are examining if Mickelson and Walters traded shares of Clorox CLX on nonpublic information from Carl Icahn about his investments since 2011.

U.S. authorities are studying the trading patterns of Billy Walters and Phil Mickelson, specifically stock trades in 2011 following Carl Icahn's investment in Clorox. The Wall Street Journal wrote, “The FBI and SEC are examining whether Mr. Walters on at least one occasion passed a tip on to Mr. Mickelson.”

Authorities are looking into whether Icahn told Walters about the takeover bid prior to his move, who in return, told Mickelson. According to the Journal, “The probe is looking at large option trades in the days before Icahn's $10.2 billion offer for Clorox in July 2011, as well as trading patterns related to Dean Foods.”

Citing an unidentified public official, the Associated Press reported, “Mickelson and Walters placed their trades about the same time in 2011.”

Pleading Innocent

On March 30, Carl Icahn said, “We do not know of any investigation. We are always very careful to observe all legal requirements in all of our activities.”

In a statement provided to CNN on Saturday, Mickelson commented, “I have done absolutely nothing wrong.” The golfer continued, “I have cooperated with the government in this investigation and will continue to do so. I wish I could fully discuss this matter, but under the current circumstances it's just not possible.”