Back in 2011 former Orioles and Angels third baseman Doug DeCinces was charged with insider trading arising out of a tip he received regarding the buyout of a medical devices company by Abbott Labs. It was a civil charge, filed by the SEC, and he settled the charges for $2.5 million.
But civil charges weren’t good enough, it seems, because he has now been charged criminally in the matter: he was indicted yesterday on 42 counts of securities fraud and a count of money laundering. Each of the fraud counts carries a maximum sentence of 20 years in prison.
Obviously it’s hard to get details from an AP report, but unless this involves something totally different than the case which he settled (civilly, anyway) in 2011, I don’t know how you wring 42 charges out of it. He got a tip. He told a few friends. They bought stock and cashed out. About as simple as it gets.
He reportedly made $1.3 million out of the transaction so it’s possible that instead of one big buy he purchased stock in, like, 21 separate buys and the feds are charging each one. They tend to do things like that.
Horrible news for Marlins stater Edinson Volquez: Jorge L. Ortiz of USA Today reports that his younger brother has been stabbed to death in the Dominican Republic.
Brandy Volquez was just 25. He was involved in an early-morning fight on Monday with two men at a barbershop in Santo Domingo. One man is in police custody. Volquez, you may recall, lost his father mere hours before starting Game 1 of the 2015 World Series, so he is no stranger to tragedy, unfortunately.
“I will always remember you my brother. May God have you in his kingdom,” Volquez wrote in an Instagram post. “RIP one love.”
The Arizona Diamondbacks have signed outfielder Gregor Blanco to a minor league contract with an invitation to spring training.
Blanco hit a mere .224/.309/.311 in 106 games with the Giants in 2006. It was his worst campaign in his big league career, not counting a 24-game stint with the Braves in 2009. Blanco suffered at least one concussion in 2015 and was on the DL for concussion issues twice that season. There’s no telling if that had anything to do with his subpar year, however.
He’ll fight for a backup job for Arizona, who already has A.J. Pollock, David Peralta and Yasmany Tomas in the outfield.