Ex-baseball star Doug DeCinces guilty of insider trading

Doug De Cinces spent 15 years in MLB but could spend even more time behind bars after being convicted on 13 insider trading counts

Doug De Cinces spent 15 years in MLB but could spend even more time behind bars after being convicted on 13 insider trading counts. More

A California federal jury on Friday convicted former Major League Baseball player Doug DeCinces of insider trading on charges for using nonpublic information to purchase stocks in a friend's medical device company in transactions that netted him $1.3 million in profits.

One friend, David Parker, 65, of Provo, Utah, was convicted of three counts on Friday.

A sentencing date has not yet been set.

The judge allowed DeCinces and Parker to remain free pending sentencing after both men promised Guilford that they will return to court.

Each count carries a potential maximum sentence of 20 years in federal prison. Jurors deadlocked on 18 other charges. Eddie Murray, the Hall of Famer who also played for the Orioles, also settled, for $358,151. "We're disappointed for everyone involved".

Those criminal charges came after DeCinces in 2011 agreed to pay $2.5 million to resolve an earlier civil case by the U.S. Securities and Exchange Commission over the same deal, without admitting or denying wrongdoing. After Mazzo's company was sold, DeCinces made the $1.3 million profit, the D.A. said.

The exhibit mentioned that the SEC was also targeting DeCinces, according to the newspaper, citing a motion for a mistrial by the defense. Federal officials haven't announced if they will re-try Mazzo.

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Prosecutors alleged that Mazzo tipped off DeCinces about the companies' merger before it happened.

Noting the alleged source of the insider tips was not convicted along with DeCinces, Julian believes there is sufficient grounds for a new trial. He showed jurors photos of the friends with their wives at charity dinners and on vacation in Italy.

The company's executives turned to Goldman Sachs for help and their banker found a "white knight" in Abbott Laboratories in Chicago, which was gobbling up the company's stock and wanted to acquire AMO, Cazares said. However, Mazzo still could face a retrial on 26 insider trading counts.

During the trial, prosecutors argued DeCinces used non-public information passed along by a Laguna Beach neighbor to make a windfall in a corporate merger while helping friends and family members do the same.

The ex-Angels and Orioles third baseman was found guilty of 13 counts Friday in Santa Ana.

Authorities say DeCinces bought stock and made over a million dollars when the price soared after the 2009 buyout. Pickup, who was known to still wash his own vehicle on Saturday mornings, liked to walk over to the beach and go over stock reports, Julian said.

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