Former Eagles linebacker now with Cleveland Browns indicted with for insider trading

JackStraw77

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• Aug 29, 2018

• #1

He profited $1.2 million in the alleged illegal trades. Former investment banker who is now a writer for TV show Black-ish gave Kendricks the information where he set up a clandestine account to put the trades in. Kendricks has agreed to plea guilty and has issued a statement. He is not traveling with Browns to final pre-season game. I would think because he has agreed to plea guilty that he will be fined and and agree to return the $1.2 million. The Browns could release him but they would like hypocrites when they are allowing Calloway and Gordon to play on the team. This happened 4 years ago when he was playing for the Eagles. I guess the league could suspend him but if they do that they should suspend every player who is behind or not paying child support. Jimmy Haslam still owns the Browns and he was involved with diesel rebate case with Pilot Flying J gas stations.


https://deadspin.com/browns-linebacker-mychal-kendricks-charged-with-insider-1828685338

 

kevloo

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Should get prison, but won't do a day. Mark Cuban somehow didn't get convicted, and he blatantly scammed using insider knowledge to avoid losses. Michelson scott free, as well.

 

Greenbacks

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• Aug 30, 2018

• #3

Cut

 

beefdiesel

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Ask Martha Stewart how that worked out for her

 

Willie99

Conservatives, Patriots & Huskies return to glory

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They didn't even prosecute Martha Stewart for insider trading, they didn't even try, they convicted her for "making a false statement" during their investigation.

That's James Comey's MO. Can't convict someone for the crime you're accusing them of committing?, No problem, just find something they said that you can claim was obstruction of justice. Be it substantive (rarely) or trivial (mostly), obstruction is obstruction in the eyes of the court

 

JackStraw77

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• Aug 31, 2018

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Did Kendricks have to do this "Perp Walk" like Bud Fox.

 

brucefan

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• #7

Insider trading should be legal so we have more efficient pricing

Does anyone actually think no one except the people who get caught trade on inside info?

If so, why does a stock that trades between 25 and 30 for months, suddenly pop to 30.25 ?

https://www.forbes.com/sites/jeffre...nize-the-victims-of-current-law/#28bed32534b3

 

kevloo

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Insider trading should not be legal. They seem to be busting people left and right lately, but for the most part, rich white guys never go to prison for it. I am starting to feel a bit bad for the Browns player. Out of the scams of the financial crisis, not a single person went to prison, yet this guy just lost his career, and will probably do some time. The market will crash soon enough. People forget how bad it got ten years ago. Heck, if the Dow went from the current 26Kish to 17K, all Hell would break loose, and that is where it was when Trump started. Dow can go to 15K and below, and if it does, it will be chaos. It can happen.