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

NewsblogOMNICHATTER for 4/23/2014
(73 - 5:34pm, Apr 23)
Last: Jolly Old St. Nick Still Gags in October

NewsblogOTP April 2014: BurstNET Sued for Not Making Equipment Lease Payments
(2315 - 5:34pm, Apr 23)
Last: The Id of SugarBear Blanks

NewsblogJosh Lueke Is A Rapist, You Say? Keep Saying It.
(164 - 5:33pm, Apr 23)
Last: What did Billy Ripken have against ElRoy Face?

NewsblogMLB takes a swing at the video game business
(20 - 5:32pm, Apr 23)
Last: Best Regards, President of Comfort

NewsblogThe Five “Acts” of Ike Davis’s Career, and Why Trading Ike Was a Mistake
(43 - 5:31pm, Apr 23)
Last: thetailor

NewsblogDoyel: How was Gerrit Cole not suspended? He basically started the brawl
(9 - 5:29pm, Apr 23)
Last: Bring Me the Head of Alfredo Griffin (Vlad)

NewsblogRoyals G.M. Dayton Moore believes hitting will come around
(17 - 5:28pm, Apr 23)
Last: Shibal

Newsblog4 balls, you’re out!
(43 - 5:06pm, Apr 23)
Last: A triple short of the cycle

NewsblogMike Trout And Bryce Harper Are Baseball’s Best Young Position-Player Duo Ever
(16 - 5:03pm, Apr 23)
Last: Steve Treder

NewsblogThe rise and fall of Ike Davis' New York Mets | Capital New York
(25 - 5:03pm, Apr 23)
Last: formerly dp

NewsblogOT: NBA Monthly Thread - April 2014
(492 - 4:44pm, Apr 23)
Last: NJ in DC (Now unemployed!)

NewsblogTwo Brewers, two Pirates suspended for fracas | MLB.com: News
(17 - 4:33pm, Apr 23)
Last: Sunday silence

NewsblogPrimer Dugout (and link of the day) 4-23-2014
(7 - 4:29pm, Apr 23)
Last: RoyalsRetro (AG#1F)

NewsblogOT: The NHL is finally back thread, part 2
(196 - 4:15pm, Apr 23)
Last: Fear is Moses Taylor's Bacon Bits

NewsblogMatt Harvey of New York Mets deletes Twitter account after controversial tweet
(17 - 4:09pm, Apr 23)
Last: dr. scott

Demarini, Easton and TPX Baseball Bats

 

 

 

 

Page rendered in 0.4245 seconds
52 querie(s) executed