Former Oriole Doug DeCinces charged with securities fraud, money laundering

32 Comments

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.

Yasmany Tomas arrested for reckless driving and criminal speeding

Christian Petersen/Getty Images
10 Comments

KTAR News is reporting that Diamondbacks outfielder Yasmany Tomas was arrested on Thursday morning for driving faster than 100 MPH, according to the Arizona Department of Public Safety. He was charged with reckless driving and criminal speeding.

The maximum sentence for a criminal speeding charge is up to 30 days in jail and a fine up to $500. It is considered a Class 3 misdemeanor. Tomas may also have his license suspended.

A Diamondbacks spokesperson said, “We are very disappointed to learn of this news. We are still gathering facts, and will refrain from further comment at this time as this is a pending legal matter.”

Tomas, 27, signed a six-year, $68.5 million contract with the Diamondbacks in December 2014 as an amateur free agent out of Cuba. He has mostly disappointed, owning a .769 OPS while playing subpar defense in the outfield as well as at third base, where the club briefly tried him. He battled a groin injury for most of the past season and ultimately underwent core muscle surgery in August.