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. LA Podcasting Hombre of 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
Phil Birnbaum
for his generous support.

Bookmarks

You must be logged in to view your Bookmarks.

Hot Topics

NewsblogOTP 16 October 2017: Sorry, Yankee fans: Trump’s claim that he can ensure victory simply isn’t true
(1563 - 12:02pm, Oct 20)
Last: Misirlou doesn't live in the restaurant

NewsblogAstros have plans for Ric Flair if Yankees series goes to Game 7 - Houston Chronicle
(6 - 12:01pm, Oct 20)
Last: Satan Says

NewsblogOT - NBA 2017-2018 Tip-off Thread
(383 - 11:58am, Oct 20)
Last: Blanks for Nothing, Larvell

Gonfalon CubsFive minute Los Angeles Dodgers Preview
(78 - 11:46am, Oct 20)
Last: Optimistic Moses Taylor, optimist

NewsblogPrimer Dugout (and link of the day) 10-20-2017
(10 - 11:46am, Oct 20)
Last: Pat Rapper's Delight (as quoted on MLB Network)

NewsblogOT - 2017 NFL thread
(146 - 11:11am, Oct 20)
Last: don't ask 57i66135; he wants to hang them all

NewsblogDodgers crush Cubs in Game 5 to advance to the World Series for first time since 1988 | LA Times
(35 - 11:09am, Oct 20)
Last: bfan

NewsblogHeyman | Tigers To Hire Ron Gardenhire
(8 - 11:08am, Oct 20)
Last: Blanks for Nothing, Larvell

NewsblogOT: New Season August 2017 Soccer Thread
(1177 - 11:00am, Oct 20)
Last: Nose army. Beef diaper? (CoB)

Sox TherapyQuestioning the Winter
(11 - 10:34am, Oct 20)
Last: Nasty Nate

NewsblogYankees, Masahiro Tanaka take 3-2 ALCS lead | MLB.com
(8 - 9:58am, Oct 20)
Last: You're a clown, RMc! I'm tired of it!

NewsblogDeadspin: Please Enjoy(?) 21 Years Of Joe Buck Hyping Forgotten Fox Shows
(17 - 9:57am, Oct 20)
Last: You're a clown, RMc! I'm tired of it!

NewsblogTBO: Trop Flop Brings Hillsborough Hunt
(2 - 9:44am, Oct 20)
Last: You're a clown, RMc! I'm tired of it!

NewsblogNLCS Game 5 OMNICHATTER, for October 19, 2017
(275 - 9:10am, Oct 20)
Last: Barry`s_Lazy_Boy

NewsblogYankees Thumbs Down Guy is now getting his own bobblehead
(8 - 9:03am, Oct 20)
Last: ThisElevatorIsDrivingMeUpTheWall

Page rendered in 0.1384 seconds
47 querie(s) executed