A Sports Gambler and a Former Dean Foods Chairman Charged With Insider Trading

May 19, 2016 2:32 PM

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A Sports Gambler and a Former Dean Foods Chairman Charged With Insider Trading

Federal authorities announced criminal charges on Thursday against the former chairman of Dean Foods and a high-rolling sports gambler with ties to prominent athletes and corporate executives, a surprising escalation of a long-running insider-trading investigation.

William T. Walters, a businessman better known as “Billy” who is often considered the most successful sports bettor in the country, was arrested by the F.B.I. at a Las Vegas resort late Wednesday. Thomas C. Davis, the former chairman of Dean Foods who stepped down last year after being suspected of ...

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