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Different Portraits of a Gambler as a Trader Emerge at Trial

Andrew Ross Sorkin, The New York Times

The insider trading trial of William T. Walters drew nearer to a close on Wednesday as defense lawyers presented testimony from the last of their witnesses and federal prosecutors gave closing arguments.

Mr. Walters, a colorful Las Vegas sports gambler known as Billy, is facing charges of wire fraud, securities fraud and conspiracy stemming from his trades of Dean Foods shares from 2008 to 2014. Jurors in Federal District Court in Manhattan, who began hearing evidence on March 16, will hear the closing argument from Mr. Walters’s lawyer on Thursday.

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