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Hall of Famer Eddie Murray charged with insider trading

Aug 17, 2012, 3:56 PM EDT

Eddie Murray Getty Images

It was reported a couple of months ago that a well-known former major leaguer was being investigated for insider trading. As it turns out, it’s Orioles Hall of Famer Eddie Murray, and he’s been charged with earning $235,314 in illegal profits.

As it turns out, Murray got his tips from former Orioles teammate Doug DeCinces, who was charged last year and, along with three associates, paid the SEC more than $3.3 million after making about $1.7 million in illegal profits.

Murray, likewise, has paid the piper:

The SEC alleges that Murray made approximately $235,314 in illegal profits after Illinois-based Abbott Laboratories Inc. publicly announced its plan to purchase Advanced Medical Optics through a tender offer. Murray agreed to settle the SEC’s charges by paying $358,151

Murray played in the majors for 21 years from 1977-97. He spent his first 12 years with the Orioles, winning the AL Rookie of the Year award in 1977 and five times finishing in the top five in the AL MVP balloting (without ever winning one). He also played for the Dodgers, Indians, Mets and Angels. He finished his career with a .287/.359/.476 line, 504 homers and 1,917 RBI. He was elected to the Hall of Fame in his first year of eligibility in 2003.

One of the game’s highest-paid players during the second half of the 1980’s, he made approximately $33 million in his career, judging from Doug Pappas’ data at Baseball-reference.

  1. largebill - Aug 17, 2012 at 4:03 PM

    For Eddie’s sake I hope he learned from Martha Stewart and kept his mouth shut until his attorney was present to advise him to continue to keep his mouth shut.

    Second hand Insider Trading cases are far from slam dunk convictions.

    • icanspeel - Aug 17, 2012 at 4:07 PM

      Based on this.. “Murray agreed to settle the SEC’s charges by paying $358,151″ sounds like they either had enough evidence on him or he got scared and gave in to avoid further penalty.

    • randomdigits - Aug 17, 2012 at 6:43 PM

      Eddie has never had a problem keeping his mouth shut.

  2. redguy12588 - Aug 17, 2012 at 4:04 PM

    His Delirious special was fantastic, I just watched it two weeks ago. Shame that he got mixed up in this.

    • stlouis1baseball - Aug 17, 2012 at 4:28 PM

      No doubt redguy. But his Raw special was even better.

      • tuftsb - Aug 17, 2012 at 5:47 PM

        I wondered when they’d get him for insider trading on OJ futures……

  3. thefalcon123 - Aug 17, 2012 at 4:11 PM

    Interesting fact about Eddie Murray’s 1977 Rookie of the Year Award:

    He didn’t deserve it. At all.

    Eddie Murray: 611 AB, 81 Runs, 29 2B, 27 HR, 88 RBI, .283/.333/.470 2.9 WAR
    Mitchell Paige: 501 AB, 85 Runs, 28 2B, 21 HR, 75 RBI, .307/.405/.521 5.8 WAR

    • Matthew Pouliot - Aug 17, 2012 at 4:18 PM

      Eddie Murray: 88 RBI
      Mitchell Page: 75 RBI

      Page also had 42 steals in 47 attempts. Outstanding rookie season, very good sophomore campaign and then that was pretty much it.

  4. moagecu - Aug 17, 2012 at 4:25 PM

    Interesting fact about Eddie Murray’s 1977 Rookie if the Year award:

    He won it.

    • thefalcon123 - Aug 17, 2012 at 4:29 PM

      Well, I think history proved Mitchell page the superior player. Am I right everybody?

  5. The Dangerous Mabry - Aug 17, 2012 at 4:27 PM

    Character Clause, anyone?

    (I like Eddie Murray. But it’s worth pointing this sort of thing out.)

  6. hittfamily - Aug 17, 2012 at 4:39 PM

    Kick him out. He is a scumbag thief, and should go to jail.

    • raysfan1 - Aug 17, 2012 at 9:33 PM

      Better idea–ditch the morality clause altogether. The Hall is a museum, not a church. Besides, it has never been applied even-handedly. If it were, Ty Cobb, Orlando Cepeda, and Fergie Jenkins would not be in, among others. Much better to elect players based only upon on-field accomplishments and honestly present the good and bad in their lives.

      • hittfamily - Aug 18, 2012 at 5:38 PM

        To me, it is a museum. They could do what the WWE does, and just hold a ceremony, and put their pic on their website. However, they do have a musuem, which I have taken my kids to several times. When they get rid of the museum, get rid of the clause.

        On another note, why are so many people here say ing things like “too bad he got caught up in this mess”. You do know that he stole money right? That is what insider trading is. He didn’t rob a gas station for $50, but rather robbed investors for $250,000. He either bought from an unassuming schmuck, or sold a dying stock to an unassuming schmuck.

  7. rockthered1286 - Aug 17, 2012 at 4:43 PM

    Interesting fact about Eddie:

    He recently came out and said he has no interest in getting back into the game of baseball. Why you ask? Because he cannot relate to todays players, who “don’t put winning games ahead of contracts and themselves.”

    And he said this to the local media. That speaks volumes, you know, considering he hates the media and what have you.

    • randomdigits - Aug 17, 2012 at 6:44 PM

      He had problem relating to players when he was a hitting coach.

    • jayquintana - Aug 17, 2012 at 8:02 PM

      Eddie Murray, of course, was the finest example of selflessness and playing the game for love, not money.

  8. sabatimus - Aug 17, 2012 at 4:49 PM

    Bahahaha

  9. rooney24 - Aug 17, 2012 at 4:59 PM

    Wow! Crazy that the fines for both DeCinces and Murray were considerably more than what they profited. That is likely a good thing. I just didn’t realize how hard they hit on those crimes. If you get down the line like that (getting a tip from someone else), you wonder exactly how much they knew, or if the first person just said, “This is going to make money, buy some now”. Obviously, Eddie must have known something, to make him just pay up (or just has enough money that $358K doesn’t make it worth his while to fight), but it just makes me wonder how much he actually knew.

  10. steveohho - Aug 17, 2012 at 5:27 PM

    Its too bad Murray or DeCinces were never elected to congress in which case they wouldn’t have been charged. One rule for the rulers and another for the ruled I suppose.

    • kalinedrive - Aug 17, 2012 at 5:38 PM

      Yes, I was just wondering when we were going to hear about the penalties imposed on congressmen and Wall Street executives. I’m sure when they get through investigating former baseball players for these measly amounts they’ll go after the big fish. Right? No? Hmm.

      • tuftsb - Aug 17, 2012 at 5:46 PM

        So they got DeCinces and Murray and not Jon Corzine?

      • hittfamily - Aug 17, 2012 at 8:34 PM

        Corzine wants to go at it again too. A recent story tied him to wanting to start his own oqn hedge fund.

  11. Glenn - Aug 17, 2012 at 5:43 PM

    This is small potatoes compared to the whole bank/Wall street corruption – plus they should just rename insider trading to “being in congress”. Check out the gain in personal wealth before and after serving with very little salary to account for it. These guys don’t just become stock market mavens by being elected.

  12. raider2124 - Aug 17, 2012 at 6:58 PM

    Excellent point steveohoo. I wad about to post that. 99% of the public dont know about it either.

  13. aceshigh11 - Aug 17, 2012 at 8:44 PM

    “Obama just picked some random black man’s name out of a hat to crack down on to make it seem like he’s not giving his people a ‘free ride’ at the expense of the white race.”

    – Corpulent drug addict, Rush Limbaugh

  14. millmannj - Aug 17, 2012 at 11:15 PM

    Agreed raysfan. In Cleveland recently, walked through Heritage Park area of ballpark, one of the players the Indians honored with a plaque was Joe Jackson. It mentions his accomplishments and then ends with line “barred from baseball for life due to 1919 Black Sox scandal.” (paraphrasing) Why can’t something similar be added to HOF plaques of Rose, Bonds, McGwire, Clemens, Raffy, etc?

  15. mudhead123 - Aug 18, 2012 at 6:53 AM

    As it turns out…,

  16. ihatepancakes - Aug 18, 2012 at 10:38 AM

    I think he knew about the charges when that picture was taken, he looks angry. Then again, he always looked angry.

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