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Insider Trading Probe Includes Westchester's Carl Icahn

Carl Icahn
Carl Icahn Photo Credit: @Carl_C_Icahn

BEDFORD, N.Y. -- Authorities overseeing an insider trading investigation are looking closely at investor Carl Icahn and whether he shared information about Clorox stocks in relation to opportune trades made by golfer Phil Mickelson and gambler William T. Walters, The New York Times reports.

Icahn, a 78-year-old billionaire, well-known investor and former Bedford resident, was preparing to place a takeover bid for Clorox around the same time Mickelson and Walters made their trades in Clorox stock in 2011.

Both the FBI and Securities and Exchange Commission are investigating whether Icahn disclosed details of his Clorox bid to Walters. One theory suggests that Walters may have passed  that information to Mickelson.

Icahn eventually withdrew his bid to buy the company for $76.50 per share in September 2011.

In an interview with The New York Times, Icahn said, “I don’t give out inside information,” adding that “for 50 years I have had an unblemished record.”

Mickelson, Walters and Icahn have not been formally accused of any wrongdoing.

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