On April 7, 2017, after a four-week trial before U.S. District Court Judge P. Kevin Castel in the Southern District of New York, William T. Walters was convicted of ten counts of conspiracy, securities fraud and wire fraud charges.  The charges related to his scheme to commit insider trading.  From 2008 through 2014, Walters received material non-public information about Dean Foods Company from Thomas C. Davis, a member of the Board of Directors of Dean Foods.  Walters then used the inside information to execute profitable trades.  In return, Walters provided Davis with capital for business ventures and two loans totally $1 million.  Davis pled guilty on May 16, 2016 to insider trading, perjury and obstruction of justice.  United States v. Davis, et al., 16-cr-00338 (S.D.N.Y.) DOJ press release

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