Former Cardinals Player Convicted Of Insider Trading

SANTA ANA, Calif. (AP) — One-time baseball star Doug DeCinces has been convicted of federal insider trading in California.

The ex-Angels and Orioles third baseman was found guilty of 13 counts Friday in Santa Ana. He’s free until sentencing but could face decades in prison.

Prosecutors say DeCinces received advance warning of a merger from the CEO of a medical device company.

Authorities say DeCinces bought stock and made over a million dollars when the price soared after the 2009 buyout. They claimed he tipped family members and friends who also benefited.

One friend, David Parker, was convicted Friday of three counts.

A mistrial was declared for the company CEO, James Mazzo, after the jury deadlocked.

DeCinces had 1,505 hits with 237 home runs in a 15-year major league career that ended in 1987 as a member of the St. Louis Cardinals.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS St. Louis

KMOX Podcasts
High School Spotlight

Listen Live