Trading is one of the easiest ways to get ahead in your career, but it’s also one of those things that can take a toll on your financial future.
That’s why, for every insider trading conviction, there’s a slew of others that have gone unpunished.
That is, until now.
With insider trading on the rise, we asked our experts to rank the 10 most common insider trading cases and the most serious charges, based on their severity and how long they’ve been pending.
While insider trading is a relatively new phenomenon, we thought it was important to provide a clear picture of the most common cases and to show how they’ve evolved.
The top 10 cases involving insider trading The cases in question include the largest cases of insider trading, including the two-decade-old case of the now-deceased former CEO of the Baltimore Orioles, Dan Duquette.
The former Baltimore Orioles player, who had been convicted of insider selling in 2011, was indicted in August 2017 by a federal grand jury in the District of Columbia.
His case is currently before the Securities and Exchange Commission.
Duquettes conviction came after a long-running case against him by the Securities & Exchange Commission that has involved multiple whistleblowers, and it’s one of a few recent insider trading convictions that the SEC has pursued.
In addition to Duquets case, we found three other former Baltimore Orioles players to be in the same boat.
The SEC’s indictment alleges that Duquetes firm, a Maryland-based consulting firm, engaged in a scheme to use insider trading to raise money for his personal investments.
The SEC charged Duquettes company, which was based in the Washington, DC, area, with engaging in the “serious” practice of “fraudulent” and “malicious” trading.
In the indictment, Duqueters attorney, Steven F. Davis, wrote that the company had engaged in “fictitious, fraudulent, and manipulative conduct,” which was designed to “gain, or otherwise manipulate the value of, its own stock in an attempt to manipulate the market” in a way that would “result in the loss of substantial profits.”
The SEC also charged that DuQuets company’s “illegal and reckless conduct” in the matter had resulted in “at least $1 million in losses.”
In addition, the SEC charged that the firm had engaged “in an unlawful scheme to commit securities fraud” in addition to other criminal conduct.
In addition to the Baltimore Oriole case, DuQuettes case was one of two insider trading prosecutions brought against Duquetting in the US since 2013.
The second case involved the former Boston Red Sox pitcher, who was sentenced in 2016 to two years in prison for insider trading.
Boston Redes Sox fans, like many others, have been affected by the team’s struggles this season, which included losing their NLDS series to the San Francisco Giants and a series loss to the Los Angeles Dodgers.
But it was Duqueting’s indictment that led to his conviction.
The case was dismissed after Duquetta pleaded guilty to securities fraud charges in 2016, and the charges were dismissed in 2018.
The third case involved former Tampa Bay Rays pitcher, pitcher Adam Wainwright.
Wainwrights conviction in 2017 was the result of an insider trading case brought by the SEC and the Securities Industry and Financial Markets Association (SIFMA), a nonprofit trade association.
The charges stemmed from a 2012 meeting at a Miami hotel where Wainwis company, the Wainwood Group, and Wainws baseball team agreed to raise about $1.6 million in an effort to help Wain, the former Tampa bay Rays pitcher and baseball coach, win the National League Cy Young Award.
The company also agreed to provide $500,000 to the Rays for a win in the playoffs.
Wainwright was sentenced to two months in prison in 2018, after pleading guilty to one count of securities fraud.
He served two years of that sentence before being released on parole in 2019.
A couple of years ago, the Securities Fraud Enforcement Task Force in Philadelphia indicted two former Cleveland Indians players, Joe Nathan and Brad Ausmus, in the case of a 2013 trade involving the Indians and former teammate Alex Rodriguez.
The trading, in which the Indians were offered two first-round picks, was made after the Indians acquired a first-rounder and a player in the 2014 MLB free agency pool in exchange for Rodriguez.
The trading occurred on June 30, 2013, when the Indians traded right-hander Luis Castillo to the Miami Marlins for first- and second-round draft picks.
Castillo signed with the Marlins for $50 million in 2013, after spending most of his time with the Chicago Cubs in 2015 and 2016.
The two players were indicted by the Philadelphia District Attorney’s Office in 2016 and charged with insider trading for allegedly trading $7 million in exchange to acquire pitcher Ryan Madson, and for the