LBC mike Posted August 29, 2018 Report Share Posted August 29, 2018 Just out out a statement apologizing for being involved in insider trading and is under investigation . Link to comment Share on other sites More sharing options...
D Bone Posted August 29, 2018 Report Share Posted August 29, 2018 It's always phucking something..... A L W A Y S Link to comment Share on other sites More sharing options...
LBC mike Posted August 29, 2018 Author Report Share Posted August 29, 2018 https://brownswire.usatoday.com/2018/08/29/mychal-kendricks-insider-trading-charges/ Link to comment Share on other sites More sharing options...
D Bone Posted August 29, 2018 Report Share Posted August 29, 2018 Link to comment Share on other sites More sharing options...
LBC mike Posted August 29, 2018 Author Report Share Posted August 29, 2018 This could be bad for him. Link to comment Share on other sites More sharing options...
TexasAg1969 Posted August 29, 2018 Report Share Posted August 29, 2018 4 minutes ago, LBC mike said: This could be bad for him. Maybe not. When I read his statement admitting guilt, it sounds like he is going for a deal to testify. Read like some of those close to Dear Leader who are getting immunity. Link to comment Share on other sites More sharing options...
LBC mike Posted August 29, 2018 Author Report Share Posted August 29, 2018 Can still suspension time from goodell. Link to comment Share on other sites More sharing options...
Tour2ma Posted August 29, 2018 Report Share Posted August 29, 2018 Just heard this... Dude came off as way to smart in the last HK episode to pull a bonehead move like this. 5 minutes ago, TexasAg1969 said: Maybe not. When I read his statement admitting guilt, it sounds like he is going for a deal to testify. Read like some of those close to Dear Leader who are getting immunity. Yeah... plus it's a "white-collar" crime so the league won't get that aggressive. Link to comment Share on other sites More sharing options...
D Bone Posted August 29, 2018 Report Share Posted August 29, 2018 11 minutes ago, Tour2ma said: .Yeah... plus it's a "white-collar" crime so the league won't get that aggressive. The billionaire owners will probably schedule a parade in his honor, officially welcoming him to their club. Link to comment Share on other sites More sharing options...
Zombo Posted August 29, 2018 Report Share Posted August 29, 2018 I'd like to change my answer on strongest position group. Z Link to comment Share on other sites More sharing options...
syd Posted August 29, 2018 Report Share Posted August 29, 2018 25 minutes ago, LBC mike said: Can still suspension time from goodell. this would be some new ground for the commish from the norm of weed dui domestic violence Link to comment Share on other sites More sharing options...
7moses7 Posted August 29, 2018 Report Share Posted August 29, 2018 He’s gonna spend some time in the grey bar hotel!! Link to comment Share on other sites More sharing options...
jrb12711 Posted August 29, 2018 Report Share Posted August 29, 2018 29 minutes ago, Tour2ma said: Just heard this... Dude came off as way to smart in the last HK episode to pull a bonehead move like this. Yeah... plus it's a "white-collar" crime so the league won't get that aggressive. I'm not worried too much about NFL, but insider trading is one of the few "white collar" crimes the government takes very seriously. Him publicly admitting guilt and not making the trip to Detroit do not bode well IMHO. Depending on the level of the crime, easily could be going to jail. Link to comment Share on other sites More sharing options...
DieHardBrownsFan Posted August 29, 2018 Report Share Posted August 29, 2018 Ohio Insider Trading Laws & Charges + Statute of Limitations By Geoffrey G. Nathan, Esq. Views: 33 The concept of insider trading as an illegal process can be complicated, as unlike federal crimes like identity theft and counterfeiting, there is no underlying law in the United States Code that specifically defines insider trading as an illegal practice. Instead, the problem of insider trading is enforced using a combination of federal laws that relate to the code of federal regulations and stock exchanges. The United States SEC, or Securities and Exchange Commission, is responsible for enforcing regulations and laws that relate to stock trades. This agency brings in charges for insider trading according to the specifics of any given case. In understanding insider trading, the SEC notes that there are some instances wherein insider trading can be considered legal. For example, when a director or employee buys and sells securities in their own company this is insider trading from a legal perspective. Laws and Penalties In Ohio, insider trading becomes illegal when a security is either sold or bought in violation of a trust or confidence regarding specific non-public information. For example, if a trade is conducted based solely on the use of privileged information, then this is illegal insider trading. Other actions can also lead to insider trading charges, such as tipping people about non-public information, trading securities according to non-public information, and making trades based on non-public information. In Ohio, the federal regulations that are applicable to make insider trading illegal are 15 USC 78j, and 17 CFR 240 10b-5. Both of these codes address the usage of deceptive and manipulative devices in trading securities. The sentencing guidelines and penalties for insider trading in Ohio treat the crime as a form of economic fraud. That means that the basic prison term for someone convicted of insider trading can be up to 6 months. However, the potential prison terms can increase based on the amount of money gained through the insider trading. For example, the guidelines set in 2015 call for up to 51 months in prison if the insider trading leads to a financial gain higher than $550,000. If it is determined that there is an organized scheme to engage in insider trading, then the prison term can rise to 21 months. In recent years, the typical punishments for insider trading have been increasing in terms of severity. In 2012, the average sentence for someone convicted of insider trading was 17.3 months, representing a significant increase over the previous five years. Insider Trading Defenses It is possible to defend yourself against a conviction of insider trading with the right protection and guidance from a lawyer who has experience dealing with these cases. To many people, insider trading seems like taking advantage of information that other people don’t have, but the SEC have begun to prioritize prosecution because this process works to undermine the integrity of securities markets. Defenses may include: The attorney may attempt to prove that you were unaware that the information that you were using in a trade or offering to someone else was actually privileged information. For instance, if you were given a tip from someone else that lead to a trade, you might not have been aware that such information was only available to insiders. Your attorney may indicate that there is not enough circumstantial evidence to prove that a case of insider trading has taken place. It is the responsibility of the prosecutor to prove that there are enough elements available to show insider trading, and failing to do so can make a conviction impossible. Finally, your attorney might attempt to prove that the trading you took part in was a form of legal insider trading thanks to a series of crucial circumstances. Statute of Limitations As with any case for any crime in Ohio, there is a statute of limitations in place that stops an individual from being prosecuted for the act of insider trading after a certain time period has passed. The Securities Exchange Act dictates that as a federal crime, insider trading should have a statute of limitation that lasts for approximately six years. Following the passage of six years after the profits were noticed regarding the insider trade, it should not be possible to prosecute an individual for insider trading. However, if the crime can be linked with other convictions, then it is possible for the statute of limitations in use to be extended. For example, if a conviction of insider trading can be connected with other instances of fraud or even money laundering, this could extend the limitations statute. Link to comment Share on other sites More sharing options...
LBC mike Posted August 29, 2018 Author Report Share Posted August 29, 2018 Gave tickets and 10k for info to profit 1.2 million. http://www.nfl.com/news/story/0ap3000000952070/article/browns-mychal-kendricks-charged-with-insider-trading Link to comment Share on other sites More sharing options...
hoorta Posted August 29, 2018 Report Share Posted August 29, 2018 1 hour ago, LBC mike said: Can still suspension time from goodell. Possibly- but not likely. 57 minutes ago, Tour2ma said: Just heard this... Dude came off as way too smart in the last HK episode to pull a bonehead move like this. Yeah... plus it's a "white-collar" crime so the league won't get that aggressive. Yeah how hard the SEC is going to go after him will depend on how big that scheme was. He offered to pay it back already, a plus. A million bucks is small potatoes as far as insider trading goes. I'm sure you remember Enron's former CEO saved himself around $60 million dumping his stock in the company before they went bankrupt. Link to comment Share on other sites More sharing options...
hoorta Posted August 29, 2018 Report Share Posted August 29, 2018 22 minutes ago, LBC mike said: Gave tickets and 10k for info to profit 1.2 million. http://www.nfl.com/news/story/0ap3000000952070/article/browns-mychal-kendricks-charged-with-insider-trading Well, usually Federal Insider trading stuff moves at the speed of a glacier- so I wouldn't expect it to affect him this season- fortunately. From a financial standpoint- at affects the Browns not at all. He's on a one year $2.2 million deal. Link to comment Share on other sites More sharing options...
Unsympathetic Posted August 29, 2018 Report Share Posted August 29, 2018 26 minutes ago, hoorta said: Possibly- but not likely. Yeah how hard the SEC is going to go after him will depend on how big that scheme was. He offered to pay it back already, a plus. A million bucks is small potatoes as far as insider trading goes. I'm sure you remember Enron's former CEO saved himself around $60 million dumping his stock in the company before they went bankrupt. Unless that scheme is LIBOR and involved the deliberate mispricing of 300+ trillion of assets, of course. You know - prosecute the small fry, let the big ones go. UBS managers were phoning their employees to not send emails regarding libor because those emails could be tracked. Yep, that's normal! Link to comment Share on other sites More sharing options...
DieHardBrownsFan Posted August 29, 2018 Report Share Posted August 29, 2018 1 hour ago, Unsympathetic said: Unless that scheme is LIBOR and involved the deliberate mispricing of 300+ trillion of assets, of course. You know - prosecute the small fry, let the big ones go. UBS managers were phoning their employees to not send emails regarding libor because those emails could be tracked. Yep, that's normal! However, the potential prison terms can increase based on the amount of money gained through the insider trading. For example, the guidelines set in 2015 call for up to 51 months in prison if the insider trading leads to a financial gain higher than $550,000. If it is determined that there is an organized scheme to engage in insider trading, then the prison term can rise to 21 months. Link to comment Share on other sites More sharing options...
jcam222 Posted August 29, 2018 Report Share Posted August 29, 2018 Amongst the largest successful tradersInsider trading is similar to speeding on the freeway, everybody’s doing it and a few unlucky get caught. Link to comment Share on other sites More sharing options...
DieHardBrownsFan Posted August 29, 2018 Report Share Posted August 29, 2018 Looks like he got caught. Link to comment Share on other sites More sharing options...
The Gipper Posted August 29, 2018 Report Share Posted August 29, 2018 5 hours ago, 7moses7 said: He’s gonna spend some time in the grey bar hotel!! Phil Mikelson had something similar, did not do the hokey pokey, so I don't know why he would. But then, Martha Stewart did it, and did spend some time. So, who knows. Link to comment Share on other sites More sharing options...
syd Posted August 29, 2018 Report Share Posted August 29, 2018 8 minutes ago, The Gipper said: Phil Mikelson had something similar, did not do the hokey pokey, so I don't know why he would. But then, Martha Stewart did it, and did spend some time. So, who knows. but didn't martha try to squirm her way out of it ? that was a while ago ? Link to comment Share on other sites More sharing options...
jiggins7919 Posted August 29, 2018 Report Share Posted August 29, 2018 57 minutes ago, jcam222 said: Amongst the largest successful tradersInsider trading is similar to speeding on the freeway, everybody’s doing it and a few unlucky get caught. I always felt the same way. Link to comment Share on other sites More sharing options...
Canton Dawg Posted August 29, 2018 Report Share Posted August 29, 2018 Looks like Mychal Kendricks may be the first Brown to earn that stripe. Link to comment Share on other sites More sharing options...
LBC mike Posted August 30, 2018 Author Report Share Posted August 30, 2018 Just released. Link to comment Share on other sites More sharing options...
Mr. Make-Believe Posted August 30, 2018 Report Share Posted August 30, 2018 God damn it. Link to comment Share on other sites More sharing options...
LBC mike Posted August 30, 2018 Author Report Share Posted August 30, 2018 http://www.nfl.com/news/story/0ap3000000952070/article/kendricks-charged-with-insider-trading-cut-by-browns Link to comment Share on other sites More sharing options...
hoorta Posted August 30, 2018 Report Share Posted August 30, 2018 22 minutes ago, LBC mike said: http://www.nfl.com/news/story/0ap3000000952070/article/kendricks-charged-with-insider-trading-cut-by-browns Wowie zowie- Dorsey said adios in a hurry.... https://247sports.com/nfl/cleveland-browns/Article/Mychal-Kendricks-Browns-released-insider-trading-121171597/?utm_source=247Sports Newsletter&utm_medium=Newsletter&utm_campaign=180829_194831_Cleveland Browns&utm_content=Link&liveconnect=CA-1F-A7-07-02-43-35-CA-71-7D-7D-AF-89-03-3E-6C180829_194831ClevelandBrowns Link to comment Share on other sites More sharing options...
Zombo Posted August 30, 2018 Report Share Posted August 30, 2018 Looks like C.J. Bello gains the most out of this, as I know project our backup linebackers to be Avery, Burgess and Bello. All good hustlers, hopefully Avery is healthy enough to start the season or we may need to scour the waiver wire for a LB, I don't think Grace or Currie are anything special. Zombo Link to comment Share on other sites More sharing options...
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