Doug DeCinces, third baseman who played from 1973 until 1987 with the Baltimore Orioles, St. Louis Cardinals and Angels, has been indicted on insider trading charges for allegedly using non-public information to buy stock in a Santa Ana medical device company.
According to a 44-count indictment, DeCinces allegedly used information from a former high-ranking official of the company to buy stock prior to the announcement of a tender offer from an international medical firm. DeCinces allegedly spent about $160,000 to buy more than 90,000 shares of the stock, which earned him more than $1.3 million in profits.
DeCinces is charged with 42 counts of securities fraud and one count of money laundering. Each of the fraud counts carries a maximum sentence of 20 years in prison, and the money laundering count carries a 10 year maximum sentence.
If you, or someone you know has been charged with securities fraud, money laundering or any other type of crime, it is important to hire a Los Angeles criminal defense attorney who has the experience to aggressively defend your case.