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.
Pirates pitcher Nick Burdi left Monday night’s game agaisnt the Diamondbacks after appearing to seriously injure his arm. Burdi threw a 1-0 fastball to Jarrod Dyson in the top of the eighth inning and immediately grabbed at his right elbow before crumbling to the dirt on the mound. Burdi was visibly in tears on the mound. Just a heartbreaking moment. Don’t watch it if you can avoid it.
Burdi, 26, was once a top prospect in the Twins’ system. The Phillies acquired him in December 2017 in the Rule 5 draft and traded him to the Pirates that same day for international bonus slot money. Burdi underwent Tommy John surgery in 2017 as well. He made his 2018 debut in mid-July after fully rehabilitating.
Burdi allowed five runs on four hits and a walk, recording just one out in Monday’s appearance. He now has a 9.35 ERA with 17 strikeouts and three walks in 8 2/3 innings on the season. It looks like he could be going on the injured list for a while, unfortunately. Hopefully, the injury isn’t anywhere near as bad as it looked. The Pirates should pass along an update on Burdi’s status by tomorrow afternoon.