BULLPEN

Feds Probe Baseball Insider Trading

Part of larger investigative crackdown on Wall St.

It’s not just bankers who are wheeling and dealing in the world of insider trading. Federal authorities are investigating an insider-trading ring reportedly operated by a retired, well-known baseball player and other former professional athletes, Reuters reports exclusively. For nearly three years, prosecutors in Los Angeles have been investigating what one U.S. official described as a “loose federation of people” tapping into and sharing market information before it goes public. The probe is part of a larger investigative crackdown on Wall Street insider trading that led to the conviction of Raj Rajaratnam and other high-profile hedge-fund traders and bankers.