“Phil has not been charged with insider trading”: Phil Mickelson found himself in deep waters with the SEC in 2016
Even though he's a top-notch golfer, Phil Mickelson is surrounded by some controversies. He defected to LIV Golf, which automatically comes with some infamy. He then became one of the rebel tour's most ardent vocal supporters. The golfer even deflected questions about the source of LIV's money.
This would have been unforeseen several years ago when he was on top of the golfing world, but controversy has followed him at various stages of his career. In 2016, he was connected with insider trading.
The SEC named Mickelson in a lawsuit regarding the illegal practice that year. They alleged in court documents filed that year that "Lefty" won almost $1 million thanks to information that was not publicly available, which is highly illegal.
The lawsuit did specifically say they weren't accusing Mickelson of any criminal wrongdoing, but he was named as a defendant alongside two other members of the insider trading.
Mickelson's attorneys refuted all claims via USA Today in 2016:
"Phil has not been charged with insider trading. Phil was an innocent bystander to alleged wrongdoing by others that he was unaware of. Phil is innocent of any wrongdoing."
Despite his purported innocence in the racket, Mickelson did make money illicitly. He was forced to pay back $931,738.12 in trading profits and $105,291.69 in interest. Mickelson's current net worth is about $400 million.
His lawyers also noted that he wasn't going to be indulging in anything other than above-board money-making plans:
"The complaint does not assert that Phil Mickelson violated the securities laws in any way. On that point, Phil feels vindicated. At the same time, however, Phil has no desire to benefit from any transactions that the SEC sees as questionable."
Phil Mickelson is also known for having a gambling addiction. A report once suggested that he lost $40 million over four years due to gambling.
Phil Mickelson still loves LIV Golf
LIV Golf recently visited London as part of their global circuit. They've been adamant about growing the game globally and have visited several places the PGA Tour hasn't. Being back in London was great for Phil Mickelson, who is excited about the future of the tour.
According to Mirror, Phil Mickelson said:
"It has been nice to come back to where it [LIV Golf] started. A lot has transpired in the last year, it has been pretty amazing how far things have come. It has been fun for us to play together, me and DJ [Dustin Johnson] played together last year and it was fun to play together again this year."
Not only is Mickelson excited about his own tour, but he's also happy with the direction of the sport in general.
"I’m excited about the direction of professional golf. I'm optimistic about the future. I’m optimistic about the growth of LIV and I'm optimistic about the global growth of the game," Phil Mickelson said.
As of now, it appears that the PGA Tour and LIV Golf will be two separate tours that can operate under the same wing. It remains to be seen how OWGR and other bodies recognize this partnership, but they are going to be somewhat united at least.