Former MLB all-star Doug DeCinces has settled insider trading charges with federal regulators on over $1.7 million in illegal trades.
The Securities and Exchange Commission says DeCinces received an insider tip in late 2008 that the Advanced Medical Optics firm would be acquired by Abbott Laboratories, Incorporated. The SEC asserted DeCinces bought shares of AMO and told three friends- who also traded on the deal.
DeCinces agreed to pay $2.5 million to settle the case without admitting anything and his three friends also settled.
Here's video of DeCinces from a new "Jay Johnstone Show" pilot that looks a lot like the old show Johnstone had...