LB Mychal Kendricks Charged with and Pleads Guilty to Insider Trading - Signed By Seattle; Returned from Suspension, Out for the Season with an Injury

[H2o]

1 hour ago, LABILLBACKER said:

Martha was convicted of obstruction,  not insider trading. 

https://money.cnn.com/gallery/investing/2014/06/02/insider-trading-famous-cases/index.html

 

She was convicted of that, but she was still in the middle of an insider trading scandal. She can also give him tips about how to handle his time in "tha joint"  

[row_33]

1 hour ago, LABILLBACKER said:

Martha was convicted of obstruction,  not insider trading. 

 

Martha didn't handle the investigation wisely....

 

 

nobody thought she would be convicted until she was.

[StrikeParry]

13 hours ago, BringBackOrton said:

The owner is an owner. He cuts the checks. Does Florio have CTE?

? I am wondering more if you’re the one with the head injury. So where does the malfeasance of a company’s wrongdoing lie, if not with the *owner* of that company? Or are you suggesting that since Haslem founded Flying V, his lackeys should take all responsibility for any subsequent fraud? Wow. That’s uhh...that’s something.

[BringBackOrton]

5 hours ago, StrikeParry said:

? I am wondering more if you’re the one with the head injury. So where does the malfeasance of a company’s wrongdoing lie, if not with the *owner* of that company? Or are you suggesting that since Haslem founded Flying V, his lackeys should take all responsibility for any subsequent fraud? Wow. That’s uhh...that’s something.

Try to follow a conversation before speaking.

[26CornerBlitz]

Mychal Kendricks pleads guilty to insider trading charges

 

PHILADELPHIA -- Former Cleveland Browns linebacker Mychal Kendricks has pleaded guilty to insider trading charges in a Philadelphia courtroom.

 

The 27-year-old told the judge on Thursday he knows he was wrong and entered the guilty plea because "it's the right thing to do."

 

He faces up to 25 years in prison when he's sentenced in December.

[That's No Moon]

3 minutes ago, 26CornerBlitz said:

He faces up to 25 years in prison when he's sentenced in December.

No chance in hell he sees that kind of time.  He pays a massive fine for sure.  Maybe does 18 months if they feel like being harsh.

 

Now...if he stole 5k sticking up a liquor store he'd do 15.  The lesson?  If you are going to steal, use a computer not a gun.

On 8/30/2018 at 12:48 PM, row_33 said:

 

 

he made over a million according to the charges and won't divulge where the profits went (he spent them....) so he's in big trouble, and isn't cooperating

 

 

If he simply spent them he's divulge that.  It's more likely he re-invested the proceeds and has since made a crap ton more money that would be subject to forfeiture.  Keep quiet, claim it was your football money, get to keep it.

Edited September 7, 2018 by That's No Moon

[26CornerBlitz]

 

[Solomon Grundy]

The Bills not looking for talented players, they're looking for choir boys

[Kirby Jackson]

This is wild!! Guy is looking at 25 years and the Seahawks are hoping to get 10 or so games out of him?!? Wow

[Solomon Grundy]

2 minutes ago, Kirby Jackson said:

This is wild!! Guy is looking at 25 years and the Seahawks are hoping to get 10 or so games out of him?!? Wow

The GOP style of football 

[H2o]

47 minutes ago, Kirby Jackson said:

This is wild!! Guy is looking at 25 years and the Seahawks are hoping to get 10 or so games out of him?!? Wow

He needs the commissary $$$. They're doing him a favor. 

[Doc]

Has something like this ever happened before? 

[BuffaloBillyG]

It's all fun and games until Uncle Roger suspends him. 

[MJS]

2 hours ago, Kirby Jackson said:

This is wild!! Guy is looking at 25 years and the Seahawks are hoping to get 10 or so games out of him?!? Wow

 

Pretty wild. I wonder if he gets put on the commissioner's exempt list.

[Buffalo Barbarian]

Wish he was signed by us.

 

 

[Pine Barrens Mafia]

8 hours ago, the skycap said:

The Bills not looking for talented players, they're looking for choir boys

They’re also not looking for convicted felons, which I think is pretty reasonable.

2 hours ago, Buffalo Barbarian said:

Wish he was signed by us.

 

 

 

Then you’d be crying incompetence and cap mismanagement when he gets sent off to the pokey.

[Mr. WEO]

9 hours ago, Kirby Jackson said:

This is wild!! Guy is looking at 25 years and the Seahawks are hoping to get 10 or so games out of him?!? Wow

 

 

Not as wild as the Brown's never ending Josh Gordon fantasy...They've gotten 10 games out of him in the last 3 years

[Kirby Jackson]

3 minutes ago, Mr. WEO said:

 

 

Not as wild as the Brown's never ending Josh Gordon fantasy...They've gotten 10 games out of him in the last 3 years

That’s true but they didn’t sign him AFTER he already had a sentencing date scheduled.

[boyst]

I absolutely love that this happens. Shows the division between the have and have nots.

[Pine Barrens Mafia]

Have I lost my damned mind being the only person who wouldn't want the team to bring in a guy who's likely to be sentenced to YEARS of prison before the end of THIS season?

 

[Royale with Cheese]

10 hours ago, the skycap said:

The Bills not looking for talented players, they're looking for choir boys

 

The guy is looking at 30-37 months in prison.  

[Pine Barrens Mafia]

1 minute ago, Royale with Cheese said:

 

The guy is looking at 30-37 months in prison.  

 

Right?

WTF am I missing about this situation?

 

[Matt_In_NH]

I read he is looking at 8-12 months after all considerations.  Still, dumb move by Seattle if you ask me.  After he does his time, I am fine with him getting a second chance but now, just looks bad.

[CLTbills]

28 minutes ago, joesixpack said:

Have I lost my damned mind being the only person who wouldn't want the team to bring in a guy who's likely to be sentenced to YEARS of prison before the end of THIS season?

 

I'm pretty shocked too, at the number of people that don't see the problem  ?

[Mr. WEO]

33 minutes ago, joesixpack said:

Have I lost my damned mind being the only person who wouldn't want the team to bring in a guy who's likely to be sentenced to YEARS of prison before the end of THIS season?

 

 

Yeah but it's December, so........

[Pine Barrens Mafia]

2 minutes ago, Mr. WEO said:

 

Yeah but it's December, so........

 

So what? Those same !@#$ing people would be complaining next year about how the Bills botched the cap by bringing this guy in.

 

You really can't see that happening?

 

People here, in all their infinite wisdom, have made up their mind about McBeane, and it's irrational.

Edited September 14, 2018 by joesixpack

[Mr. WEO]

11 minutes ago, joesixpack said:

 

So what? Those same !@#$ing people would be complaining next year about how the Bills botched the cap by bringing this guy in.

 

You really can't see that happening?

 

People here, in all their infinite wisdom, have made up their mind about McBeane, and it's irrational.

 

They traded for and still pay for  Coleman and barely got 10 minutes out of him, let alone 10 games.

 

It's not like they will be giving up a draft pick or paying several million for Kendricks in Seattle...

[Rock-A-Bye Beasley]

16 minutes ago, joesixpack said:

 

So what? Those same !@#$ing people would be complaining next year about how the Bills botched the cap by bringing this guy in.

 

You really can't see that happening?

 

People here, in all their infinite wisdom, have made up their mind about McBeane, and it's irrational.

He signed a one year deal with Seattle. How can that hurt the cap next season?

 is he going to be sentenced during the season? If not, I don’t see any problem with improving our weak LB Corp. especially for depth purposes. 

He wouldn’t have signed here anyway, but I see no reason for anyone to be against a 1 year deal. 

[Pine Barrens Mafia]

Just now, Chemical said:

He signed a one year deal with Seattle. How can that hurt the cap next season?

 is he going to be sentenced during the season? If not, I don’t see any problem with improving our weak LB Corp. especially for depth purposes. 

He wouldn’t have signed here anyway, but I see no reason for anyone to be against a 1 year deal. 

Because he's due to be sentenced in DECEMBER. So you're paying a year contract for a guy who won't even play a year, and probably wouldn't have started right away anyway.

 

[Rock-A-Bye Beasley]

Just now, joesixpack said:

Because he's due to be sentenced in DECEMBER. So you're paying a year contract for a guy who won't even play a year, and probably wouldn't have started right away anyway.

 

Oh ok, that wasn’t in the article I read, so I guess it makes sense more for Seattle since he has played there already. 

[Mango]

12 minutes ago, joesixpack said:

Because he's due to be sentenced in DECEMBER. So you're paying a year contract for a guy who won't even play a year, and probably wouldn't have started right away anyway.

 

 

From what I’ve read, he is sentenced in December, but there is some fluidity as to when he starts serving. He’ll most likely see the entire season. 

 

Im also reading a lot that there is a good chance he serves zero time. If he does, it will be ~6 months, but only end up serving 2-3. He’ll be out in time for the 2019 season, if not 2019 OTA’s. 

 

Either way, it’s a one year deal, and he’ll almost certainly be available for the entirety of the season.  

 

Just for perspective, Michael Irvin stabbed a teammate, Ray Lewis and Marvin Harrison killed a guy, and kept on playing, receiving multiple other contracts. Nobody really batted much of an eye at that. 

Edited September 14, 2018 by Mango

[Pine Barrens Mafia]

Just now, Mango said:

 

From what I’ve read, he is sentenced in December, but there is some fluidity as to when he starts serving. He’ll most likely see the entire season. 

 

Im also reading a lot that there is a good chance he serves zero time. If he does, it will be ~6 months, but only end up serving 2-3. He’ll be out in time for the 2019 season, if not 2019 OTA’s. 

 

Either way, it’s a one year deal, and he’ll almost certainly be available for the entirety of the season.  

 

Can i see some links for the "zero time" sentence? Not that I don't believe you, but you know.

 

[aristocrat]

12 minutes ago, joesixpack said:

 

Can i see some links for the "zero time" sentence? Not that I don't believe you, but you know.

 

 

he is cooperating and they want the bankers and inside guys.  kendricks received tips he didn't give out the tips.  

[Mango]

9 minutes ago, joesixpack said:

 

Can i see some links for the "zero time" sentence? Not that I don't believe you, but you know.

 

 

I can’t find it right now, but basically it comes down to what was said in the text messages and precise wording. Basically the difference between “Yo, I got a deal for you, send me 80k and you’ll thank me later” and “Hey, I have some insider info, let’s make some money, don’t tell anybody, this isn’t above board, I could go to jail”. If Kendrick didn’t know about the insider info until the transaction went through, he’ll get a slap on the wrist, and a HUGE fine. But little to no time. 

 

 The fact that he already plead guilty gives way to the idea that he has a plea deal in place already. They’ll cut Kendrick’s loose in exchange to nail Sonoiki, who by all accounts has been giving insider info to multiple people. 

 

For cases like this, in order to be fully charged, Kendrick’s has to be fully aware that he is trading with insider info from the start of the transaction in order to serve time. So far that’s unclear, which means it’s very possible he serves little to no time. 

[Pine Barrens Mafia]

3 minutes ago, aristocrat said:

 

he is cooperating and they want the bankers and inside guys.  kendricks received tips he didn't give out the tips.  

 

In terms of the law, whether you just receive tips or give tips you've committed a crime. If you get a tip and buy or sell on that tip, it's insider trading.

 

[Mango]

3 minutes ago, aristocrat said:

 

he is cooperating and they want the bankers and inside guys.  kendricks received tips he didn't give out the tips.  

 

Like I said above, in order to be fully prosecuted, he has to be fully aware that the transaction is insider trading. That’s why the text correspondence is crucial. What’s listed in the SI report doesn’t give any claim that he knew at all. Kendrick’s is scarred because he’s losing money, and confirmed the moving of the money. Neither are that incriminating. 

[aristocrat]

Just now, joesixpack said:

 

In terms of the law, whether you just receive tips or give tips you've committed a crime. If you get a tip and buy or sell on that tip, it's insider trading.

 

 

for sure. but like i said he's cooperating and the feds would rather nail the guys at goldman sachs than a football player. they want to be confiscating boats and planes not some football player.  

[Doc]

9 hours ago, No Place To Hyde said:

It's all fun and games until Uncle Roger suspends him. 

 

Yep.  There's no way to justify allowing him to play even a single down for the Seahags under Sir Roger's PCP.

[Mango]

4 minutes ago, aristocrat said:

 

for sure. but like i said he's cooperating and the feds would rather nail the guys at goldman sachs than a football player. they want to be confiscating boats and planes not some football player.  

 

 

Exactly. From the sounds of it, the feds have enough to fine and give very minor jail time to what is probably a dozen or more people. Just based on the system Sonoiki had in place in terms of distancing himself with a middle man. That’s why wording is incredibly important here for those conversations. 

 

The feds would rather cut stuff like this off at the head, rather than waste their time on a bunch of small timers in the grand scheme of things. It’s not just a would you rather, it’s incredibly costly and time consuming to “prove” Kendrick’s had full knowledge at the time of the transaction that this was insider trading. The burden of proof is incredible. So they’ll fine him a ton, in exchange for Sonoiki and the bigger business. 

Edited September 14, 2018 by Mango

[aristocrat]

1 hour ago, Mango said:

 

Like I said above, in order to be fully prosecuted, he has to be fully aware that the transaction is insider trading. That’s why the text correspondence is crucial. What’s listed in the SI report doesn’t give any claim that he knew at all. Kendrick’s is scarred because he’s losing money, and confirmed the moving of the money. Neither are that incriminating. 

 

phil mickelson was caught insider trading but because something about him being insulated between a few guys he avoided a criminal record and instead paid a fine plus the profit back.  phil heard it from a guy who heard it from a guy who heard it from a guy.