Former Angels third baseman Doug DeCinces was one of four people indicted for insider trading on Wednesday.
DeCinces was charged with 42 counts of securities fraud and one count of money laundering after he allegedly invested in a medical device company prior to a takeover, on the advice of a friend who was the CEO. DeCinces began buying stock in Advance Medical based on the information and profited roughly $1.3 million by selling his stock after the takeover.
He also reportedly passed the information on to three friends, who also profited. DeCinces' former teammate Eddie Murray was also involved in the alleged insider trading. Murray agreed to pay nearly $360,000 to settle federal civil charges in the case.
DeCinces, who could face 20 years in prison for each of the 42 fraud charges, played six seasons with the Angels from 1982-1987. In addition to the criminal charges, DeCinces agreed to pay $2.5 million to the Securities and Exchange Commission as part of a civil lawsuit.