Blog Entry

Former player DeCinces caught insider trading

Posted on: August 4, 2011 3:31 pm
  •  
 
By Matt Snyder

Doug DeCinces played in Major League Baseball from 1973-1987, but has distinguished himself in a different way recently. He has been charged by the Securities and Exchange Commission with insider trading ahead of a company buyout.

DeCinces and three other men raked in more than $1.7 million in illegal profits by buying shares in Advanced Medical Optics prior to it being sold to Abbott Laboratories, Inc. DeCinces had learned confidential information about the merger and start buying up the stock to increase his own profit. He continued to receive the inside information throughout the merger process, while also illegally tipping off three associates -- physical therapist Joseph J. Donohue, real estate lawyer Fred Scott Jackson, and businessman Roger A. Wittenbach. -- who were also charged by the SEC.

“Time and again, we see reputable people engaging in insider trading and risking their good names in order to enrich themselves and those around them,” said Daniel M. Hawke, Chief of the SEC Division of Enforcement’s Market Abuse Unit and Director of the Philadelphia Regional Office (SEC.gov). “People need to understand that we are watching for suspicious trading activity, and they will pay a heavy price when we catch them insider trading.”

DeCinces has agreed to pay a $2.5 million settlement and the other three have also agreed to settlements.

DeCinces, 60, played for the Orioles, Angels and Cardinals during the course of his major-league career. He made one All-Star Game and played in one World Series. The third baseman hit .259 with 237 career home runs and a .774 OPS.

For more baseball news, rumors and analysis, follow @cbssportsmlb on Twitter or subscribe to the RSS feed.
  •  
Category: MLB
Comments
hotmeuly
Since: Dec 2, 2011
Posted on: December 21, 2011 10:56 am
This comment has been removed.

Post Deleted by Administrator



peulouy
Since: Dec 2, 2011
Posted on: December 19, 2011 5:38 am
This comment has been removed.

Post Deleted by Administrator




Since: Dec 2, 2011
Posted on: December 8, 2011 5:57 pm
 

Former player DeCinces caught insider trading

Since i present any online sites online a small amount of displays lumbar, and in addition mercifully, may possibly it's I've been seeking the past several months, regards



Since: Mar 20, 2008
Posted on: August 4, 2011 11:11 pm
 

Former player DeCinces caught insider trading

Why is DeCinces settlement $2.5M, when they(he and his 3 partners) made $1.7M? These guys are small compared to the large insider trading.....



Since: Mar 20, 2008
Posted on: August 4, 2011 11:11 pm
 

Former player DeCinces caught insider trading

Why is DeCinces settlement $2.5M, when they(he and his 3 partners) made $1.7M? These guys are small compared to the large insider trading.....



Since: Jul 29, 2009
Posted on: August 4, 2011 11:01 pm
 

Former player DeCinces caught insider trading

If my memory serves me correctly, I believe Dougy had serious back issues. That will happen if you try to twist your body and mind around trying to get over on the SEC. I'm amazed this dude had the cash to pay off this fine.



Since: Nov 12, 2007
Posted on: August 4, 2011 9:37 pm
 

Former player DeCinces caught insider trading

maybe he was tipped off on the pitch



Since: Nov 9, 2008
Posted on: August 4, 2011 7:47 pm
 

Former player DeCinces caught insider trading

Rediculous activity and inexcusable by DeCinces. Greed is an amazing drug!



Since: Mar 14, 2011
Posted on: August 4, 2011 7:46 pm
 

Former player DeCinces caught insider trading

yanksnets-not irony but a coincidence but thanks for the neat tidbit.



Since: Jan 15, 2008
Posted on: August 4, 2011 7:32 pm
 

Former player DeCinces caught insider trading

I used to love it when the Orioles came into town to play the Brewers in old County Stadium and enjoyed watching them play.  I always thought DeCinces was a "slick fielder" but this is not what I expected!!



The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com