Baseball for the Thinking Fan

Login | Register | Feedback

btf_logo
You are here > Home > Baseball Newsstand > Baseball Primer Newsblog > Discussion
Baseball Primer Newsblog
— The Best News Links from the Baseball Newsstand

Friday, June 08, 2012

(Reuters) Exclusive: Insider trading probe swings from bankers to ballplayers

An ongoing insider trading investigation by U.S. prosecutors in Los Angeles is focusing on a retired, well-known baseball player and several other former athletes whose names have not yet been disclosed, said two people familiar with the situation.

The former athletes under scrutiny - mainly a group of professional baseball players - are allegedly part of what one U.S. investigatory government official described as “a loose federation of people” sharing important market-moving information about various companies before it becomes public.

 

...
A potential sign of things to come in California came last August when the Philadelphia office charged former California Angels third baseman Doug DeCinces with insider trading. In that case, filed in federal court in Santa Ana, California, regulators charged DeCinces, his physical therapist and two of his friends with trading shares of Advanced Medical Optics, a healthcare company, based on non-public information.

The four men settled with the SEC and agreed to fines. DeCinces paid $2.5 million. A criminal probe remains open, but no charges have been filed so far against any of the men. DeCinces’ lawyer did not respond to a request for comment.

The civil charges against DeCinces are not directly related to the investigation involving the larger group of former athletes. But the people familiar with the situation said the DeCinces charges developed during the investigation.

Golfing Great Mitch Cumstein Posted: June 08, 2012 at 04:52 PM | 8 comment(s) Login to Bookmark
  Tags: business, retiree

Reader Comments and Retorts

Go to end of page

Statements posted here are those of our readers and do not represent the BaseballThinkFactory. Names are provided by the poster and are not verified. We ask that posters follow our submission policy. Please report any inappropriate comments.

   1. bfan Posted: June 08, 2012 at 05:12 PM (#4151951)
baseball players engaged in insider-trading? What's next, investment bankers using steriods?
   2. Swedish Chef Posted: June 08, 2012 at 05:19 PM (#4151956)
Given Dykstra's investment prowess, I'm pretty sure this time it isn't him.
   3. Pasta-diving Jeter (jmac66) Posted: June 08, 2012 at 05:56 PM (#4151975)
Given Dykstra's investment prowess, I'm pretty sure this time it isn't him.

that would be outsider trading
   4. GregD Posted: June 08, 2012 at 06:04 PM (#4151981)
The former athletes under scrutiny - mainly a group of professional baseball players - are allegedly part of what one U.S. investigatory government official described as “a loose federation of people” sharing important market-moving information about various companies before it becomes public.

Loose federation is an awesome term. I picture the Hanseatic League at the Hansetag in Cologne.
   5. Los Angeles El Hombre de Anaheim Posted: June 08, 2012 at 06:07 PM (#4151984)
Or the Avengers!
   6. Bhaakon Posted: June 09, 2012 at 04:39 AM (#4152233)
Loose federation is an awesome term. I picture the Hanseatic League at the Hansetag in Cologne.


Isn't it technically a confederation?
   7. Jose Canusee Posted: June 09, 2012 at 05:26 PM (#4152600)
I would have pictured the Hanseatic League too, but Judge Landis threatened us with a MLB TV blackout if we did.
   8. Pasta-diving Jeter (jmac66) Posted: June 09, 2012 at 06:18 PM (#4152624)
I would have pictured the Hanseatic League too, but Judge Landis threatened us with a MLB TV blackout if we did.

I always rooted for the Lübeck Löwen

You must be Registered and Logged In to post comments.

 

 

<< Back to main

News

All News | Prime News

Old-School Newsstand


BBTF Partner

Support BBTF

donate

Thanks to
cardsfanboy
for his generous support.

Bookmarks

You must be logged in to view your Bookmarks.

Hot Topics

NewsblogJAYSON STARK ON THE WINTER MEETINGS: “I’M ONLY GOING TO REPORT INFORMATION THAT I AM CONFIDENT ABOUT”
(8 - 2:09am, Dec 09)
Last: Joyful Calculus Instructor

NewsblogAstros discuss deal for Jose Quintana, but White Sox want a haul - Houston Chronicle
(14 - 2:05am, Dec 09)
Last: ReggieThomasLives

NewsblogOTP: 5 December 2016: Baseball's New Collective Bargaining Agreement
(1224 - 1:23am, Dec 09)
Last: The Yankee Clapper

NewsblogPablo Sandoval got 'complacent' with big Red Sox deal
(25 - 1:11am, Dec 09)
Last: Commissioner Bud Black Beltre Hillman

NewsblogNationals acquire outfielder Adam Eaton | MLB.com
(61 - 1:10am, Dec 09)
Last: madvillain

NewsblogWould O's fans really hate Bautista if the team signed him? | Sports on Earth
(12 - 1:09am, Dec 09)
Last: DFA

NewsblogOT: NBA 2016-17 Preseason Thread
(1285 - 12:31am, Dec 09)
Last: madvillain

Newsblog2016 Rule 5 Draft results | MLB.com
(32 - 12:29am, Dec 09)
Last: Make Meatwad great again

Hall of MeritMost Meritorious Player: 1999 Discussion
(5 - 9:47pm, Dec 08)
Last: DL from MN

NewsblogCards would have to leave comfort zone to land outfielder they desire | stltoday.com
(11 - 9:45pm, Dec 08)
Last: cardsfanboy

Gonfalon CubsCubs roster update - post Winter Meetings
(9 - 9:07pm, Dec 08)
Last: What did Billy Ripken have against ElRoy Face?

NewsblogPhillies prospect Mickey Moniak adds 20 pounds of muscle
(58 - 8:50pm, Dec 08)
Last: PreservedFish

NewsblogHoly Toledo! Bill King is Hall of Fame announcer, finally
(16 - 8:24pm, Dec 08)
Last: No.19

NewsblogBlue Jays trying to balance objective evaluation, subjective exuberance - Sportsnet.ca
(9 - 7:37pm, Dec 08)
Last: John Northey

Gonfalon CubsStarting to think about 2017
(107 - 5:33pm, Dec 08)
Last: Moses Taylor, Unwavering Optimist

Page rendered in 0.1382 seconds
47 querie(s) executed