Hall of Famer Eddie Murray charged with insider trading

29 Comments

It was reported a couple of months ago that a well-known former major leaguer was being investigated for insider trading. As it turns out, it’s Orioles Hall of Famer Eddie Murray, and he’s been charged with earning $235,314 in illegal profits.

As it turns out, Murray got his tips from former Orioles teammate Doug DeCinces, who was charged last year and, along with three associates, paid the SEC more than $3.3 million after making about $1.7 million in illegal profits.

Murray, likewise, has paid the piper:

The SEC alleges that Murray made approximately $235,314 in illegal profits after Illinois-based Abbott Laboratories Inc. publicly announced its plan to purchase Advanced Medical Optics through a tender offer. Murray agreed to settle the SEC’s charges by paying $358,151

Murray played in the majors for 21 years from 1977-97. He spent his first 12 years with the Orioles, winning the AL Rookie of the Year award in 1977 and five times finishing in the top five in the AL MVP balloting (without ever winning one). He also played for the Dodgers, Indians, Mets and Angels. He finished his career with a .287/.359/.476 line, 504 homers and 1,917 RBI. He was elected to the Hall of Fame in his first year of eligibility in 2003.

One of the game’s highest-paid players during the second half of the 1980’s, he made approximately $33 million in his career, judging from Doug Pappas’ data at Baseball-reference.

Indians sign Melky Cabrera to a minor league deal

Getty Images
Leave a comment

The Indians have signed free agent outfielder Melky Cabrera to a minor league deal. The pact is pending a physical.

Cabrera, 33, went unsigned this past offseason after putting up a season of .285/.324/.423 with 17 homers and 85 RBI with the White Sox and the Royals.

Cabrera will report to Columbus once he passes his physical and, according to Paul Hoynes, there are no guarantees being made to him that he’ll get playing time. That said, the Indians aren’t getting much outfield production from anyone besides Michael Brantley, and Cabrera’s status as a switch hitter would give Terry Francona some flexibility, so it would not be shocking to see him on the big club after some reps in the minors.