Former major league all-star Doug DeCinces faces decades in jail after being found guilty in an insider stock trading scheme that made him more than $1 million.
Former Angels star Doug DeCinces found guilty in insider trading deal that netted him $1 million-plus https://t.co/udVQTEhNRa pic.twitter.com/Hf8o1oKDs0
— O.C. Register (@ocregister) May 12, 2017
KCAL-TV in Los Angeles reported that DeCinces could be sentenced to an astounding 220 years in prison.
DeCinces, according to prosecutors, purchased 90,000 shares in a medical device firm after he was tipped the company was going to be sold. He then sold his shares and made a $1.3 million profit. Prosecutors said DeCinces passed the insider tip along to other friends, who also made a profit on the deal, according to a report in the New York Post.
The Post reported that DeCinces was so callous he called his broker while his father was dying in the hospital. DeCinces remains free of bail pending a sentencing hearing, which hasn't been set.
DeCinces, now 66. began his career with the Baltimore Orioles, and will forever have a huge part in Baltimore lore. In 1979, he hit a two-run, walk-off home run that's still referred to as the night Orioles magic was born. Baltimore went on to win the American League pennant.
DeCinces, a third baseman, was traded to the California Angels in 1982 and was an American League all-star in 1983. His big league career was over in 1987, and he finished with a lifetime .259 batting average, 237 home runs and 879 RBI.
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