{"id":47362,"date":"2017-03-25T11:00:42","date_gmt":"2017-03-25T18:00:42","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=47362"},"modified":"2017-03-24T13:08:41","modified_gmt":"2017-03-24T20:08:41","slug":"billy-walters-trial-star-witness-embezzled-battered-womens-charity-fund-gambling-hookers","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/billy-walters-trial-star-witness-embezzled-battered-womens-charity-fund-gambling-hookers\/","title":{"rendered":"Billy Walters Trial Star Witness Embezzled from Battered Women\u2019s Charity to Fund Gambling, Hookers\u00a0"},"content":{"rendered":"

Gambling, soliciting prostitutes, ripping off a women\u2019s charity and leaking sensitive company information, it\u2019s all just another day at the office, apparently, for the former chairman of one of America\u2019s biggest milk-processing companies.<\/p>\n

\"Billy
William \u201cBilly\u201d Walters leaves a Manhattan federal court. He is alleged to have made $43 million in illegal stock trades on Dallas-based Dean Foods. He is pleading not guilty. (Image: Peter Foley\/Bloomberg)<\/figcaption><\/figure>\n

Tom Davis, the former chairman of\u00a0Dean Foods, of Dallas, continued his testimony in the trial of his one-time friend, the legendary gambler Billy Walters, on Wednesday. Walters is accused of making $43 million from illegal trades on Dean Foods\u2019 stock, using privileged information allegedly supplied by Walters.<\/p>\n

As the star witness for the prosecution, Davis was asked by US Assistant Attorney Brooke Cucinella to disclose any unsavory details about his background that may later surface over the course of the trial. This is standard practice, as it\u2019s preferable that such information is presented to the court up front rather than being wheedled out of the witness later by a defense attorney.<\/p>\n

And, boy, did Davis deliver!\u00a0 \u00a0 \u00a0 \u00a0<\/span><\/p>\n

$200,000 On One Hand of Blackjack<\/b><\/h2>\n

The court had heard the previous day how the nature of Davis\u2019 relationship with Walters changed after the latter loaned him around $1 million. After Davis became indebted to him, Walters\u2019 request for information became \u201cmore demanding.\u201d<\/p>\n

On Wednesday Davis explained that even after borrowing the money, his failed numerous investments and gambling habits forced him to embezzle $100,000 from a golf charity for battered women. Davis eventually paid the money back, but later took another $50,000 which he spent on \u201cgambling and hookers.\u201d \u00a0 \u00a0<\/span><\/p>\n

Davis said that he initially received $625,000 from Walters but he blew it quickly, losing $200,000 alone on one hand of blackjack in 2011 at the Cosmopolitan in Las Vegas. He then asked Walters for another loan of $400,000 which he said was to help refinance a bank in Dallas.\u00a0 \u00a0<\/span><\/p>\n

Davis Lying, Says Walters Attorney <\/b><\/h2>\n

\u201cI made a very poor decision at that period of time in my life,\u201d admitted Davis, in what Bloomberg described this week as \u201chis gravelly Texas drawl.\u201d<\/p>\n

\n

“I\u2019d developed a strong friendship with Mr. Walters,” Davis said. “I knew who Billy Walters was\u2026 he was a fairly famous gambler. He had a lot of connections in Las Vegas. He was a big sports gambler. I was frankly enamored with him.”<\/strong><\/p>\n<\/blockquote>\n

Barry Berke, Walters\u2019 attorney called Davis \u201ca liar\u201d who \u201cwrongfully implicated Walters only after he got caught stealing from a charity and cheating on his taxes.\u201d<\/p>\n

“We are going to prove through incontrovertible evidence that he’s lying about every single allegation of his whole story,” Berke said.<\/p>\n

Davis is testifying against his former friend as part of a plea bargain with federal prosecutors after admitting charges including securities fraud and wire fraud.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gambling, soliciting prostitutes, ripping off a women\u2019s charity and leaking sensitive company information, it\u2019s all just another day at the office, apparently, for the former chairman of one of America\u2019s biggest milk-processing companies. Tom Davis, the former chairman of\u00a0Dean Foods, of Dallas, continued his testimony in the trial of his one-time friend, the legendary gambler […]<\/p>\n","protected":false},"author":42,"featured_media":47365,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,11,10,60,1074],"tags":[],"acf":[],"yoast_head":"\nBilly Walters Trial Star Witness Embezzled from Battered Women\u2019s Charity to Fund Gambling, Hookers\u00a0<\/title>\n<meta name=\"description\" content=\"Tom Davis, the former chairman of\u00a0Dean Foods, ripped off a charity and blew $200,000 on one hand of blackjack, information is flying at Billy Walters trial.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Billy Walters Trial Star Witness Embezzled from Battered Women\u2019s Charity to Fund Gambling, Hookers\u00a0\" \/>\n<meta property=\"og:description\" content=\"Tom Davis, the former chairman of\u00a0Dean Foods, ripped off a charity and blew $200,000 on one hand of blackjack, information is flying at Billy Walters trial.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/billy-walters-trial-star-witness-embezzled-battered-womens-charity-fund-gambling-hookers\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-25T18:00:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-03-24T20:08:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/03\/s2.reutersmedia.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"728\" \/>\n\t<meta property=\"og:image:height\" content=\"485\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/billy-walters-trial-star-witness-embezzled-battered-womens-charity-fund-gambling-hookers\/\",\"url\":\"https:\/\/www.casino.org\/news\/billy-walters-trial-star-witness-embezzled-battered-womens-charity-fund-gambling-hookers\/\",\"name\":\"Billy Walters Trial Star Witness Embezzled from Battered Women\u2019s Charity to Fund Gambling, Hookers\u00a0\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/billy-walters-trial-star-witness-embezzled-battered-womens-charity-fund-gambling-hookers\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/billy-walters-trial-star-witness-embezzled-battered-womens-charity-fund-gambling-hookers\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/03\/s2.reutersmedia.jpg\",\"datePublished\":\"2017-03-25T18:00:42+00:00\",\"dateModified\":\"2017-03-24T20:08:41+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Tom Davis, the former chairman of\u00a0Dean Foods, ripped off a charity and blew $200,000 on one hand of blackjack, information is flying at Billy Walters trial.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/billy-walters-trial-star-witness-embezzled-battered-womens-charity-fund-gambling-hookers\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/billy-walters-trial-star-witness-embezzled-battered-womens-charity-fund-gambling-hookers\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/billy-walters-trial-star-witness-embezzled-battered-womens-charity-fund-gambling-hookers\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/03\/s2.reutersmedia.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/03\/s2.reutersmedia.jpg\",\"width\":728,\"height\":485,\"caption\":\"William \u201cBilly\u201d Walters leaves a Manhattan federal court. 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