Lawyers for Billy Walters said federal authorities knew about leaks of grand jury information to media regarding an insider trading investigation involving the retired sports bettor, but they allowed it to continue. Billy Walters exits a New York federal courtroom in 2017. The retired sports bettor is in court again, this time suing current and former federal officials for violating his rights during an insider trading investigation that he claims were tainted by illegal leaks to the media. (Image: Richard Drew/AP) That information was part of a response filed Thursday to the defendants’ motions to dismiss a civil case Walters initiated last October in US District Court in Manhattan.