Phil Mickelson, Carl Icahn Investigated In Insider Trading Case

FBI, SEC look into investments made by golf champion around the time Icahn launched takeover bid for Clorox.
2:58 | 06/01/14

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Transcript for Phil Mickelson, Carl Icahn Investigated In Insider Trading Case
In the meantime, one of the most popular athletes in golf, Phil Mickelson, caught inside a federal insider trading investigation. Mickelson playing in a tournament this weekend, says he's done nothing wrong. This is quite a story. Rebecca Jarvis is here with more. Good morning to you. If Phil Mickelson was rattled at that tournament in Ohio, he hit it very well, this morning, new details emerging about the insider trading investigation. Pro golfer Phil Mickelson, known for winning the masters three times N the spotlight this morning for another reason. Confirmed to ABC news, they're pursuing an insider trading probe involving Mickelson and Carl icann. The investigation centers on trades made by Mickelson and Walters. A source briefed on the probe, says both traded on Clorox. Whether waters passed that information to Mickelson. I have done absolutely nothing wrong and that's why I have been fully cooperating with the FBI agents and I'm happy to do so in the future, too. Icahn telling the "New York times" to suggest he did anything wrong is quote "Irresponsible." Billy waters had no comment. Determining exactly what information they were given is crucial. It's not a crime to trade stocks based on tips you got from your buddy on the golf course. Reporter: Past proebs of high-profile investors have been complicated. In 2004, Martha Stewart served five months at a federal prison for obstruction of justice. ABC news has learned no arrests here are imminent and investigators are simply gathering evidence at this point. They're keenly aware of the high burden of proof. They take these allegations of insider training very seriously. No one wants to think the game is rigged. Why is it so hard to prove insider trading? Not only prove that there were conversations about the trade and they knowingly traded on inside information. Carl icahn is a very outspoken figure on Wall Street. We'll be hearing from him. And his tweets. His tweets and his rants. Always fascinating. It has happened again. One of those bounce houses, so popular with kids, going airborne.

This transcript has been automatically generated and may not be 100% accurate.

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