It’s well known (although not widely publicized) that Phil has a pretty big gambling problem - he reportedly switched clubs from Titleist to Callaway when Callaway agreed to pay off his gambling debts.
His lawyer says that he is not the target of any investigation, but when the WSJ reports on it, there must be more than smoke. I heard today that Mickleson has gone 13 tournaments without finishing in the top 10, so maybe he knew something was coming.
I remember hearing about his name connected to an insider trading investigation a few months ago, but didn’t think much of it. But a sudden large investment in an unsexy company like Clorox, just before its acquisition, is easy pickins for the SEC.
You mention that his gambling problem is widely known, but I don’t remember any press on it. Not to derail this thread, but it’s interesting how the personal problems of “wholesome” white athletes are rarely publicized while it’s quite the opposite for black athletes. I remember learning about Peyton Manning’s marital indiscretions also being widely known around Indy, but his stories never seemed to get any press. Meanwhile almost everyone was alerted about Michael Jordan’s infidelity and gambling throughout his career.