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Billy Walters Convicted In Insider Trading Case

Las Vegas sports gambler Billy Walters was found guilty Friday in a trial related to an insider trading scheme.

Reuters reports Walters faced 10 counts, ranging from wire fraud to conspiracy.

Walters was known for being one of the best sports bettors in the country, amassing a fortune from successful bets in Las Vegas' sportsbooks.

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This trial centered around allegations Walters made more than $40 million dollars on insider trading, receiving tips from the former chairman of Dean Foods about that company's performance to allow for making money and minimizing losses.

Walters allegedly also passed along those tips to professional golfer Phil Mickelson.

Casey Morell is the coordinating producer of Nevada Public Radio's flagship broadcast State of Nevada and one of the station's midday newscast announcers. (He's also been interviewed by Jimmy Fallon, whatever that's worth.)