They were friends for more than 20 years, bonding over sports, golf, gambling and business. But now, former Dean Foods Co. chairman Tom C. Davis is telling a Manhattan jury a story that could send his former pal, Las Vegas gambler Billy Walters, to prison for almost a decade.
Davis, 68, took the stand Tuesday and testified in Walterss insider-trading trial that he passed him Dean Foods boardroom secrets in exchange for almost $1 million in loans. Davis said he used the money for gambling debts and to pay for a bitter divorce.
Walters, 70, made about $43 million trading Dean Foods securities as a result, according to prosecutors. He could be sentenced to eight to 10 years in prison if convicted, U.S. Attorney Brooke Cucinella …
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