The Latest

Southern California breaking news and trends

Former Baltimore Oriole Doug DeCinces indicted in Southern California insider trading case (PDF)

Former Baltimore Orioles' Doug DeCinces, left, and Chris Hoiles shake hands after being inducted into the Orioles Hall of Fame during a ceremony before the Orioles' baseball game against the Tampa Bay Devil Rays on Saturday, Aug. 26, 2006, in Baltimore.
Former Baltimore Orioles' Doug DeCinces, left, and Chris Hoiles shake hands after being inducted into the Orioles Hall of Fame during a ceremony before the Orioles' baseball game against the Tampa Bay Devil Rays on Saturday, Aug. 26, 2006, in Baltimore. Gail Burton/AP

Former Baltimore Orioles third baseman Doug DeCinces and three others have been indicted on insider trading charges for allegedly profiting from information prior to the takeover of a Southern California medical device company.

DeCinces was charged Wednesday with 42 counts of securities fraud and one count of money laundering. He is scheduled to appear in court Dec. 17.

Prosecutors say DeCinces received information from an official at Advanced Medical Optics, Inc. regarding a takeover offer by Abbott Laboratories. Authorities say DeCinces made about $1.3 million after he bought stock in Advanced Medical Optics and sold it soon after Abbott’s tender offer was publicly announced.

DeCinces last year agreed to pay $2.5 million to settle a civil lawsuit filed by the Securities and Exchange Commission.

It wasn’t immediately known if DeCinces had retained an attorney.

Along with being an Oriole, DeCinces also played for the then-California Angels, as well as college baseball in Los Angeles.

Insider Trading - DeCinces, Et Al - Indictment

This story has been updated.

blog comments powered by Disqus

Enjoy reading The Latest? You might like KPCC’s other blogs.

What's popular now on KPCC