The athlete Mychal Kendricks is hard at work on a legal deal he hopes will escape the 25-year prison sentence he could be facing.
Full story below…
The NFL superstar was charged with conspiracy to commit security fraud after he was accused of using insider information handed to him to by a banker from an investment firm to fraudulently obtain $1.2 million.
Said banker is said to have been showered with luxury goodies and tickets to football games in exchange for his services.
Now, Kendricks has learned that his alleged act may cost him his freedom.
According to court documents obtained by The Blast, Kendricks is seeking an extension of time to respond to the complaint. He says he needs additional time to respond so that he “can finalize his negotiations with the Securities and Exchange Commission for a resolution of this matter.”
He is facing a maximum possible sentence of 25-years in prison and a $5.25 million fine, plus the forfeiture of the $1.2 million he made off the illegal trading.
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Still Bae tho
Throw more money at them that should work! I still don’t understand how this is illegal though.
You don’t understand how this is illegal? Some of you are just clueless outside of pop culture. Insider trading is bad because it gives the said insider an unfair advantage in market. Which can result in other traders losing potential profit and gains on the market. It’s really not that hard to understand. People are so blinded by their lust of looks, it throws them off of how terrible the attractive person really is. In this case the guy is just untrustworthy. Throw the book at his ass, if he was middle class he’d be under the federal prison right now!
You say they’re clueless outside of pop culture and I beg to differ. Unless something is spelled out in front of them in easily disgestible chunks they won’t get it, even when it’s pop culture related. I worry about how some of these stans function in every day life. Truly
Stupid Move! If they sent Martha Stewart to prison just imagine a person of color consequences
Exactly! And even worse, I don’t think he was hurting for money.
Well he better not go to jail if Elon Musk, CEO and board chair, of a multi billion dollar corporation did not go for jail for manipulating the market to inflate the value of Tesla. Not only should he have been charged, but he should have been banned as CEO altogether, but instead he was removed as the chairman and charged a $20M fine, which is just a fraction of his multi billion dollar net worth. Talk about the privilege SMH!