Doug DeCinces was found guilty of insider trading on Friday following a trial of two months where the ex-baseball player had been accused of the illegal use of information that was non-public from a friend who was a CEO to help net him $1.3 million.
Doug DeCinces, who spent most of his 15-year career with the Baltimore Orioles and California Angels, was accused of receiving insider information from James Mazzo, a Laguna Beach neighbor who owned Santa Ana-based Advanced Medical Optics.
In turn, federal prosecutors said, DeCinces passed the inside information on to his friend, David Parker, and other DeCinces family members and acquaintances.
Jurors deliberated for four days before finding DeCinces guilty of 14 felony counts, the Register reported. Parker was convicted of three felonies.
Each count carries a potential maximum sentence of 20 years in federal prison.
DeCinces, 66, stared toward the jury, shaking his head slightly, as the guilty verdicts were read. Jurors were unable to reach a decision regarding an additional 15 counts against DeCinces, deadlocking 8-4 in favor of guilt, the Register reported.
DeCinces’ attorney, Ken Julian, said that he plans to file a motion for a new trial.
“Obviously, this is a disappointment for everybody involved,” Julian told the Register. “This is not the end.”
The judge allowed DeCinces and Parker to remain free pending sentencing after both men promised Guilford that they will return to court. A sentencing date has not been set.
DeCinces began his major-league career in Baltimore in 1973 and joined the Angels in 1982. He finished his career with the St. Louis Cardinals in 1987. He batted .259 with 237 home runs and 879 RBI during his career.