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Ex-Dean Foods chair describes giving secrets to pro gambler

Published Mar. 22, 2017 11:26 a.m. ET

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AP

NEW YORK (AP) The former chairman of Dean Foods has told a New York jury that he fed secrets about the company to a professional gambler for years.

Thomas Davis testified Tuesday as the prosecution's star witness against his former longtime friend, William ''Billy'' Walters.

Prosecutors say Walters encouraged friends including professional golfer Phil Mickelson to buy stock in Dean Foods Co. The Dallas-based company is one of the nation's largest processors of milk for retailers.

Mickelson, who may testify later in the trial, was never charged criminally. But he did agree to pay back $1 million he earned in 2012 after Walters suggested a trade.

The 68-year-old Davis testified he told Walters secrets about Dean Foods for over seven years.

Walters' lawyer says Davis is lying.

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