Facts

The Securities and Exchange Commission (SEC) charged former professional baseball player Doug DeCinces and three tippees with illegal trading. They made more than $1.7 million in illegal profits. They agreed to pay more than $3.3 million to settle the charges.

The SEC then charged the source of those illegal tips, James Mazzo, with illegal insider trading. The SEC also charged David Parker and Eddie Murray, who allegedly traded on inside information provided by DeCinces. Murray allegedly made $235,314 in illegal profits. Mazzo's illegal tipping was reported to be more than $2.4 million while Parker made approximately $347,920.

Result

Without admitting or denying liability, Murray agreed to settle the charges by paying $358,151, which included the disgorgement of $235,314, prejudgment interest of $5,180, and a penalty of $117,657.

Other Information

James Mazzo has denied liability and his case is currently ongoing. The settlement has not been approved by the Court.