Mickelson has to pay back the $931,000 he 

made after insider trading tip

NEWS RELEASE
The USA Securities and Exchange Commission on Thursday alleged that golfer Phil Mickelson made $931,000 after purchasing stock on an insider trading tip from sports gambler Billy Walters and then used some of the money to pay back Walters, to whom he allegedly owed money.
The SEC said Mickelson, who was not criminally charged, has agreed to pay back "all ill-gotten gains," which, including interest, totalling $1.03 million.
Mickelson instead was charged as a relief defendant, which is reserved for a person who profited without evidence of knowledge concerning the origin of the illegal tip.

• For four decades, other gamblers have tried to be Billy Walters while investigators have tried to bring him down. And for four decades, the world's most successful sports bettor has outrun them all.
• In ESPN The Magazine's Gambling Issue, Shane Ryan writes that Phil Mickelson has all but mastered the Tuesday money matches on the PGA Tour

"Simply put, the money Mr. Mickelson made was not his to make," said Andrew Ceresney, director of the SEC's enforcement division.
A spokesman for Mickelson issued a statement Thursday, saying the golfer has "no desire to benefit from any transaction that the SEC sees as questionable."
"Phil understands and deeply respects the high professional and ethical standards that the companies he represents expect of their employees, associates and of Phil himself," the statement said.
 "He subscribes to the same values and regrets any appearance that, on this occasion, he fell short. He takes full responsibility for the decisions and associations that led him to becoming part of this investigation.
"... He is pleased that this matter is over, and he will have no further comment."

US PGA Tour spokesman Ty Votaw, when asked if any disciplinary action was being considered against Mickelson, declined comment, citing tour policy.
A spokesman for Barclays, the bank that sponsors Mickelson, declined to comment on how Thursday's actions will affect his relationship with the company.
Officials with financial services company KPMG, which also sponsors Mickelson, said in a statement: "KPMG has had a long and meaningful relationship with Phil Mickelson. While we are disappointed by what the SEC announced today, we appreciate that Phil's statement makes clear he respects and shares the values of KPMG. 
"We accept his statement of personal responsibility and commitment and have nothing further to add."
In its case, the SEC said Mickelson spoke with Walters, with whom he had placed bets, in 2012 about an upcoming spin-off of dairy company Dean Foods. Based on a tip Walters had received, the SEC alleged, Walters told Mickelson to buy the stock. 
 Months after buying 240,000 shares, according to a companion criminal case, Mickelson then repaid Walters, using the Dean Foods money, the SEC alleged.
Walters was charged with insider trading and was arrested by the FBI late Wednesday in Las Vegas. He was released from custody Thursday afternoon in U.S. District Court in Las Vegas on $1 million bond and $100,000 cash security.
 Walters is scheduled to make an appearance before the United States District Court for the Southern District of New York on June 1.
In a separate indictment Thursday, the U.S. Attorney's office in Manhattan, in conjunction with the SEC and the FBI, alleged that Walters' interaction with former chairman of Dean Foods Thomas Davis allowed him to make a profit of $32 million in stock trading while avoiding losses of $11 million.
Davis, who had business relationships with Walters, allegedly received $1.1 million in loans from Walters that went unpaid. Davis is co-operating with the investigation, and he has already pleaded guilty to charges that, in addition to those handed down to Walters, include perjury and obstruction of justice, U.S. Attorney Preet Bharara said Thursday at a news conference in New York.

The 45-year-old Mickelson was inducted into the World Golf Hall of Fame in 2011. He has won 42 tUS Tour events, including five majors -- three Masters, one PGA Championship and one Open.
He has long had a reputation for being a gambler, though he has said he scaled back his habit after his son, Evan, was born in 2003. The most publicized payoff was when Mickelson and friends won $560,000 on a pre-season bet (28-1 odds) that the Baltimore Ravens would win the 2001 Super Bowl.