In one of the largest insider trading cases in recent history, known gambling expert Billy Walters is found guilty on counts of insider trading.
Billy, being famous for placing upwards of 200k at a time on one specific game, amassed 40 million in insider trading stock buys and investment curves. They are calling it the biggest bet that went wrong.
The news broke Friday after a federal jury in Manhattan found him guilty. Walters was convicted of 10 charges of securities fraud, wire fraud and conspiracy, the most serious of which carry a potential sentence of up to 20 years in prison.