Former MLB all-star charged with insider trading

Former Major League Baseball all-star Doug DeCinces has settled

insider trading charges with federal regulators over $1.7 million

in illegal trades.

The Securities and Exchange Commission says DeCinces received an

insider tip in late 2008 that Advanced Medical Optics would be

acquired by Abbott Laboratories Inc. The SEC says he bought shares

of Advanced Medical Optics through brokerage accounts while his

source updated him on the deal’s progress. He shared the

information with three associates who also made illegal trades, the

SEC says.

DeCinces agreed to pay $2.5 million to settle the case without

admitting or denying guilt. The three associates also settled.

DeCinces is a former third-baseman who played 15 seasons for the

Baltimore Orioles, the California Angels, and the St. Louis