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

BBTF Partner

Support BBTF

donate

Thanks to
Shooty Is Disappointed With His Midstream Urine
for his generous support.

Bookmarks

You must be logged in to view your Bookmarks.

Hot Topics

NewsblogOTP - April 2015: Church, baseball, politics: Rahm and Chuy work to close the deal
(2928 - 7:52am, Apr 21)
Last: BDC

NewsblogCubs To Promote Addison Russell
(16 - 7:36am, Apr 21)
Last: Dag Nabbit is a cornucopia of errors

NewsblogNew York Mets lose Jerry Blevins, Travis d'Arnaud to fractures - MLB - SI.com
(42 - 7:34am, Apr 21)
Last: Lassus

NewsblogWEEI: O's rip Buchholz for 'forever' pace on mound
(38 - 7:24am, Apr 21)
Last: Flynn

NewsblogMore from Oakland A’s Brett Lawrie, Josh Reddick - Oakland Athletics : The Drumbeat
(142 - 7:23am, Apr 21)
Last: Commissioner Bud Black Beltre Hillman

NewsblogPoz - The Museum of Nice Players
(47 - 6:56am, Apr 21)
Last: Misirlou's got a job, but it don't pay

NewsblogWSJ: He's a Perplexing Question to Bat Around.
(13 - 5:47am, Apr 21)
Last: Russ

NewsblogOT: Monthly NBA Thread - April 2015
(1123 - 4:22am, Apr 21)
Last: Howling John Shade

NewsblogJoe Buck has a truly awful suggestion about how to improve MLB broadcasts
(62 - 3:36am, Apr 21)
Last: pthomas

NewsblogA profane Bryan Price vents frustration
(23 - 2:29am, Apr 21)
Last: Gold Star - just Gold Star

NewsblogVICE SPORTS: AGAINST ESPN'S K-ZONE, WHICH IS THE WORST
(31 - 2:13am, Apr 21)
Last: Monty

Newsblog4-20-2015 OMNICHATTER
(142 - 1:35am, Apr 21)
Last: cardsfanboy

NewsblogWhy A-Rod must shelve fielding hopes and ace job No. 1 | New York Post
(85 - 1:11am, Apr 21)
Last: Ray (RDP)

NewsblogSunday Notes: Bryce Harper on Stats; Storen, Gausman, Eflin, Almora, more | FanGraphs Baseball
(31 - 12:39am, Apr 21)
Last: bookbook

NewsblogBraves reliever Andrew McKirahan suspended 80 games for PED violation
(21 - 8:55pm, Apr 20)
Last: theboyqueen

Page rendered in 0.1785 seconds
48 querie(s) executed