Eddie Murray Pays $350k SEC Fine Tied to Tip from Ex-Orioles Teammate Doug DeCinces
Securities and Exchange Commission heat came to the Baltimore Orioles' second-hottest hot corner (sorry, runner-ups to Boog Powell and Brooks Robinson), and now Hall of Fame first baseman Eddie Murray is paying $358,151 to extricate himself from a federal action that resulted from a tip he got from his buddy and former teammate at third base, Doug DeCinces. That DeCinces would go on to be an Anaheim Angels fan favorite is not the only Orange County hook as the tip allegedly originated from insider information supplied by his Laguna Beach neighbor.
DeCinces, who along with three others paid $3.3 million last year to settle SEC claims, is a friend and neighbor of James Mazzo, the former chairman and CEO of Santa Ana-based Advanced Medical Optics.
The SEC alleges that Mazzo, who at the time was still at the top of Advanced Medical Optics, told DeCinces in 2009 that the company was about to be acquired by Abbott Laboratories.
Murray, who also played with the Dodgers, Angels, Mets and Indians and was once a Dodger hitting coach, made $235,314 when Abbott obtained Advanced Medical Laboratories.
But the multiple Golden Glover--and only the third player in history to collect both 3,000 hits and 500 home runs--admitted no wrongdoing in paying the SEC fine, instead agreeing to the settlement to put the matter behind him, according to his lawyer.
Also admitting no wrongdoing is 55-year-old Mazzo, who "flatly and unequivocally denies" insider trading claims just filed against him in federal court by the SEC, according to his Los Angeles lawyer, Richard Marmaro.
Get the ICYMI: Today's Top Stories Newsletter Our daily newsletter delivers quick clicks to keep you in the know
Catch up on the day's news and stay informed with our daily digest of the most popular news, music, food and arts stories in Orange County, delivered to your inbox Monday through Friday.