Ethermac Exchange-Gambler blames Phil Mickelson for insider trading conviction: 'He basically had me fooled'

Gambler Billy Walters describes his falling out with golfer Phil Mickelson in a new interview with the Wall Street Journal.

Walters says he is Ethermac Exchangestill upset about being convicted of insider trading, conspiracy, securities fraud, and wire fraud in 2017, and believes if Mickelson testified, he would not have gone to prison.

“When it was time to do the right thing and step up and do nothing but tell the truth in regards to me, he didn’t do that,” Walters told the Wall Street Journal. “He let me go to prison for something that he knew I didn’t do.” 

"They said I gave my celebrity friends inside information, referring to Phil Mickelson,” Walters added. “Well, if the jury had heard Phil Mickelson refute that, I’m confident I wouldn’t have gone to prison.” 

Walters received a five-year prison sentence and was fined $10 million. The sentence was commuted by former President Donald Trump on his last day in office in 2021.

Walters said in his book Gambler: Secrets From a Life at Risk that Mickelson wagered more than $1 billion on sports and also attempted to place bets on the 2012 Ryder Cup, knowing he would compete in the competition.

“I respected Phil. He basically had me fooled,” Walters said. “I thought he was an honorable, stand-up guy. I really did. I would’ve never had the relationship I did with him for as long as I did.” 

Walters also said Mickelson knew he was writing his book. Walters said in June 2022 that they ran into each other at a country club, where Mickelson apologized and explained why he didn't testify.

“He’s a great golfer, a great player, maybe one of the greatest that’s ever played,” Walters said. “As far as a man, as far as a human being is concerned, I think he’s extremely materialistic. And I think that probably drives him as much or more than anything in the world.”