Originally posted on Fox Sports West  |  Last updated 11/28/12
LOS ANGELES (AP) -- Former Baltimore Orioles all-star Doug DeCinces and three others were indicted Wednesday on insider trading charges involving the use of information prior to the takeover of a medical device company in California, authorities said. 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 a share for the company's stock, prosecutors said. At the time, Advanced Medical Optics was trading for about 8 a share. DeCinces began buying Advance Medical stock based on that information and passed along the takeover details to three friends because he wanted to make up for previous investment recommendations that had gone bad, prosecutors said. When Abbott's offer was made public, DeCinces sold his newly purchased shares and profited about 1.3 million, court documents show. Abbott acquired Advanced Medical Optics in January 2009. DeCinces' three friends each bought and sold Advanced Medical stock and made anywhere from 140,000 to nearly 350,000, authorities said. Also indicted on insider trading charges were David Parker, 60, of Provo, Utah; Fred Scott Jackson, 65, of Newport Beach, and Roger Wittenbach, 69, of Lutherville-Timonium in Maryland. DeCinces, 62, was 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. DeCinces is scheduled to appear in court on Dec. 17. "To put it mildly, we do not agree with the decision to bring a criminal case against Doug DeCinces," said Gordon Greenberg, DeCinces' attorney. "But the proper place to have this resolved is in the courtroom and not on the courthouse steps." Messages left for the other defendants' lawyers were not immediately returned. The Securities and Exchange Commission previously filed a civil lawsuit against DeCinces that was settled last year when the former major leaguer agreed to pay 2.5 million. In the lawsuit, federal authorities named James Mazzo, Advanced Medical's former CEO, as the person who told DeCinces about the pending deal. Mazzo is a senior vice president at Abbott and is not facing criminal charges. In August, in response to the SEC lawsuit, Mazzo's attorney said his client would be fully exonerated after a review of the evidence. Also caught up in the insider trading case was Hall of Famer and DeCinces' former teammate Eddie Murray, who agreed in August to pay nearly 360,000 to settle federal civil charges. Federal investigators said DeCinces told Murray about the impending takeover. Murray neither admitted nor denied wrongdoing. DeCinces was a third baseman during 15 seasons with the Orioles, California Angels and St. Louis Cardinals. He currently is president and CEO of a real estate development firm in Orange County.
MORE FROM YARDBARKER

On the similarities between Kyrie Irving and Kobe Bryant

Sixers still open to trading Jahlil Okafor

Tickets for 49ers-Rams game at Levi's going for $14

Aaron Rodgers has funny quote on never beating the Bengals

Raul Mondesi sentenced to prison for corruption as mayor in Dominican Republic

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

WATCH: Youth football coaches engage in ugly brawl

Richard Sherman critical of NFL injury report: It is for gamblers

Adidas hooked Giannis Antetokounmpo up with an entire truck full of sneakers

Carmelo Anthony trade rumors suggest he’s headed to the Rockets soon

John Farrell may use David Price as temporary closer

Marvin Lewis threatens Bengals players with major changes

NFL Week 3 predictions

The 'MLB is as powerful as ever' quiz

After a decade in the WNBA, MVP Sylvia Fowles is ready for the spotlight

College football 2017 Week 4 predictions

10 teams that can unseat the Warriors for the 2018 NBA championship

NFL Referee Hotline: Mike McCarthy is sick of these calls

The 'Kevin Durant has mad (Twitter) handles' quiz

Baseball's most underwhelming teams of 2017

The 'Remember the tight ends' quiz

Ranking the best college football fan bases

Getaway Day: Time runs short as postseason nears

Sports & Politics Intersect: White House sticks it to sports

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 Yardbarker Privacy Policy and Terms of Service. You can opt out at any time. For more information, please see our Privacy Policy.

NFL Week 3 predictions

After a decade in the WNBA, MVP Sylvia Fowles is ready for the spotlight

The 'MLB is as powerful as ever' quiz

10 teams that can unseat the Warriors for the 2018 NBA championship

College football 2017 Week 4 predictions

NFL Referee Hotline: Mike McCarthy is sick of these calls

Baseball's most underwhelming teams of 2017

The 'Kevin Durant has mad (Twitter) handles' quiz

Ranking the best college football fan bases

The 'Remember the tight ends' quiz

Today's Best Stuff
For Publishers
Company Info
Help
Follow Yardbarker