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 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

BBTF Partner

Support BBTF

donate

Thanks to
Rough Carrigan
for his generous support.

Bookmarks

You must be logged in to view your Bookmarks.

Hot Topics

NewsblogOT: Monthly NBA Thread - October 2014
(393 - 4:37pm, Oct 25)
Last: rr

NewsblogYost's managerial decisions make for extra-entertaining World Series | FOX Sports
(8 - 4:36pm, Oct 25)
Last: BDC

NewsblogBuster Olney on Twitter: "Sources: Manager Joe Maddon has exercised an opt-out clause in his contract and is leaving the Tampa Bay Rays immediately."
(86 - 4:34pm, Oct 25)
Last: zonk

NewsblogOT: The Soccer Thread, September 2014
(936 - 4:29pm, Oct 25)
Last: Howling John Shade

NewsblogOT:  October 2014 - College Football thread
(449 - 4:22pm, Oct 25)
Last: Lance Reddick! Lance him!

Newsblog2014 WORLD SERIES GAME 4 OMNICHATTER
(4 - 4:14pm, Oct 25)
Last: Sunday silence

NewsblogPhils' philospophy beginning to evolve | phillies.com
(12 - 4:08pm, Oct 25)
Last: Textbook Editor

NewsblogOT: Politics, October 2014: Sunshine, Baseball, and Etch A Sketch: How Politicians Use Analogies
(3782 - 4:08pm, Oct 25)
Last: Jolly Old St. Nick Is A Jolly Old St. Crip

NewsblogDave Dombrowski: Injury worse than expected, Miguel Cabrera 'is as tough as you can possibly be' | MLive.com
(19 - 4:04pm, Oct 25)
Last: fra paolo

Newsblog9 reasons Hunter Pence is the most interesting man in the World (Series) | For The Win
(22 - 3:31pm, Oct 25)
Last: esseff

NewsblogJohn McGrath: The Giants have become the Yankees — obnoxious | The News Tribune
(19 - 2:59pm, Oct 25)
Last: PreservedFish

NewsblogGambling Bochy creature of habit when it comes to pitchers | CSN Bay Area
(3 - 1:14pm, Oct 25)
Last: esseff

NewsblogMLB - Royals' Ned Yost keeps managing to win - ESPN
(9 - 12:55pm, Oct 25)
Last: The elusive Robert Denby

Hall of MeritMost Meritorious Player: 1959 Ballot
(7 - 11:46am, Oct 25)
Last: lieiam

NewsblogRoyals get four AL Gold Glove finalists, but not Lorenzo Cain | The Kansas City Star
(17 - 11:46am, Oct 25)
Last: BDC

Page rendered in 0.1906 seconds
52 querie(s) executed