Originally written on Fox Sports  |  Last updated 11/28/12
Former Baltimore Orioles all-star Doug DeCinces and three others were indicted Wednesday on insider trading charges for using and profiting from information prior to the takeover of an Orange County medical device company, authorities said. DeCinces, 62, was charged with 42 counts of securities fraud and one count of money laundering. Each of the securities fraud counts carries a maximum sentence of 20 years in prison. DeCinces is scheduled to appear in court Dec. 17. In 2008, DeCinces was told by a close friend and official at Advanced Medical Optics, Inc. that Abbott Laboratories planned to pay $21 to $23 per share of the company's stock, prosecutors said. At the time, Advanced Medical Optics was trading about $8 a share. DeCinces began buying Advance Medical's stock, based on that information, and also passed along the takeover details to three friends because he wanted to make up for previous investment recommendations that had gone bad, prosecutors said. Once Abbott's offer...
GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

Cardinals fire scouting director in hacking scandal fallout

Report: Lakers to get second meeting with LaMarcus Aldridge

Antonio Gates suspended four games for violating drug policy

Tim Duncan officially returning to Spurs for another season

Rolando McClain suspended four games for substance abuse

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Jets' Richardson suspended four games for violating drug policy

Report: Aldridge not impressed with Lakers' branding pitch

Toronto column after trade details Kessel's love of hot dogs

A-Rod, Yankees, union in talks to donate HR bonus to charity

Dez Bryant, Cowboys reportedly on verge of contract extension

Report: Braxton Miller to reveal 'immediate plans' next week

Solo, Rapinoe among USWNT stars up for World Cup awards

Report: Heat re-sign Wade to one-year, $20M contract

Larry Brown Sports on Sports Jeopardy! Here's how it went

A-Rod on desire to make All-Star Game: ‘I’d walk to Cincinnati’

Landing Monta Ellis puts Pacers back in title-chasing pack

Bryce Harper snaps another selfie with fans before game

Putting Chris Sale’s strikeout streak in historical perspective

Chargers job listing: Applicants must be open to move to LA

College football's 35 most patriotic helmets

TUF weekly recap by NOS® Energy Drink

Cavs on verge of shattering NBA's luxury tax record

Sizing up baseball's (potential) trade deadline sellers

MLB News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Solo, Rapinoe among USWNT stars up for World Cup awards

LBS on Sports Jeopardy! Here's how how it went

College football's 35 most patriotic helmets

A brief history of non-star All-Stars

With Love retained, the Cavs can take care of LeBron

Grading the deal: Davis commits to Pelicans

Obama Administration: Change name if Redskins move to D.C.

Deciding what the All-Star Game means

Odell Beckham Jr. offered professional baseball contract

Orioles keep finding a way to win

Lloyd sends USWNT to World Cup final

Selecting the 2015 AL All-Stars

Today's Best Stuff
For Bloggers

Join the Yardbarker Network for more promotion, traffic, and money.

Company Info
Help
What is Yardbarker?

Yardbarker is the largest network of sports blogs and pro athlete blogs on the web. This site is the hub of the Yardbarker Network, where our editors and algorithms curate the best sports content from our network and beyond.