On May 19, William T. Walters was arrested in Las Vegas on charges of conspiracy, wire fraud, and securities fraud, relating to an insider trading scheme that had taken place between 2008 and 2014.  During that time period, Walters was regularly receiving inside information about Dean Foods (a Fortune 500 company) from a member of its board of directors, Thomas C. Davis.  Walters traded on the inside knowledge he received in advance of public announcements, netting him over forty million dollars.  In return, Walters provided Davis with capital for joint business ventures and two million dollars’ worth of personal loans.  To avoid detection by law enforcement, the pair used prepaid cell phones and code words to discuss confidential corporate information.  U.S. v. Walters, 16-cr-338 (S.D.N.Y.). DOJ Press Release