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re: Ex-Eagle Mychal Kendricks pleads guilty to insider Trading. Faces 25 years
Posted on 9/6/18 at 8:23 pm to TechDawg2007
Posted on 9/6/18 at 8:23 pm to TechDawg2007
Sounds like he signed with the wrong Ohio team.
0
Posted on 9/6/18 at 8:28 pm to TechDawg2007
I am active in the market and hate insider trading. But it's so selectively prosecuted it's ridiculous. It's also non-violent. He should get 2 or 3 years of real time max. and a lifetime ban from the stockmarket (however you can do that).
All these hedge funds going crazy over Elon Musk publicly stating what he was considering proved the point - what could be more public, non-insider- than publicly announcing his considerations on Twitter?
All these hedge funds going crazy over Elon Musk publicly stating what he was considering proved the point - what could be more public, non-insider- than publicly announcing his considerations on Twitter?
This post was edited on 9/6/18 at 8:31 pm
Posted on 9/6/18 at 8:31 pm to Overbrook
quote:This.
But it's so selectively prosecuted it's ridiculous.
Hell, if the SEC were truly adamant about rooting it out, 99% of DC would be under investigation.
Insider trading is essentially how all of the US Congress makes its money.
This post was edited on 9/6/18 at 8:35 pm
Posted on 9/6/18 at 8:34 pm to boosiebadazz
He’ll prolly do more time than most drug dealers get
Posted on 9/6/18 at 8:39 pm to Scruffy
Exactly right. It’s how folks like Bennie Thompson become millionaires after arriving in DC with admittedly nothing.
Posted on 9/6/18 at 9:07 pm to TechDawg2007
So the dude gets busted for being the first one in line? This is retarded.
Posted on 9/6/18 at 9:11 pm to Overbrook
Every day CNBC has an options section where someone buys 250k worth of call options on some random stock that someone is betting on making a huge jump in the next few days. Yet they don’t seem to act like that is abnormal at all.
Posted on 9/6/18 at 9:18 pm to Scruffy
It's how the Kennedy's built their wealth
Posted on 9/6/18 at 9:23 pm to Overbrook
quote:There's a reason why earnings and deals are reported after hours.
what could be more public, non-insider- than publicly announcing his considerations on Twitter?
Posted on 9/6/18 at 9:38 pm to Keys Open Doors
quote:
That 25 year number is complete fiction.
Guarantee less than 2 years. Probably less than 6 months.
I don't know about federal Court, but I know in state Court you would never plead guilty until you've struck your deal with the prosecutor.
At your arraignment, you always plead not guilty, then there's a time period set to accept a plea offer. All the negotiations go on behind the scenes, then, unless your absolutely innocent, you plead and the judge issues the state recommended sentence.
If you plead guilty right off the bat, I believe it's then up to the judge and only the judge on how he feels the sentence should be handed down.
Obviously, Kendricks is not going to get 25 years, and even if he did, he would parole out after serving far less than the actual sentence. For many state felonies, unless it something like capital murder, an actual prison time can range anywhere from 1/6 to 1/4 of the sentence before parole eligibility.
Kendricks will probably do time, but nothing near what the headline says. Martha Stewart, whom benefitted far more than $1.5 million, only did like 10 months or so in a minimum security fed. Prison if I remember correctly.
Posted on 9/6/18 at 9:39 pm to TechDawg2007
He made a plea deal he's not getting a lot of time. A few years maybe. A couple more likely
Posted on 9/6/18 at 9:43 pm to TJGator1215
quote:It is pretty much how every politician built their wealth.
It's how the Kennedy's built their wealth
Posted on 9/6/18 at 9:44 pm to Byron Bojangles III
How did he strike a deal that fast? Wasn't he only arrested like a week ago? I've never seen courts work that fast.
Meybe he'll flip and become federal witness to land some bigger fish.
Meybe he'll flip and become federal witness to land some bigger fish.
Posted on 9/6/18 at 10:28 pm to Byron Bojangles III
quote:
He made a plea deal
No he didn't.
quote:
A few years maybe. A couple more likely
Probably sentenced to a couple tops and will do 3-6 months.
Why do people speak about things they know absolutely nothing about?
Posted on 9/6/18 at 11:43 pm to TechDawg2007
I of course don't know anything about insider trading, nor do I know the normal punishments of it, but my guess is that he won't get anything near 25 years. Maybe more like a year or two.
Posted on 9/7/18 at 12:51 am to VADawg
My grandfather was a federal agent in customs/BP. They used to bust people in the open waters all the time with millions of dollars. These are guys who could have retired in The Bahamas and Belize and Barbados long before they were caught. He always told me, the easiest question to ask is where is the money? People are greedy. Money makes people do dumb shite. It’s easy to say in hindsight, why take the $1M when you earn $20M but it’s never that simple is it.
This post was edited on 9/7/18 at 12:52 am
Posted on 9/7/18 at 1:10 am to TechDawg2007
Will probably get him a one game suspension from ole Rodg.
Posted on 9/7/18 at 2:12 am to CaptainBrannigan
the fact that Martha Stewart had to do prison time was crazy...even though it was probably the easiest white collar prison ever. She is the sweetest lady. House arrest, probation and fines should have been more than enough.
Should be the same here.
Should be the same here.
Posted on 9/7/18 at 2:19 am to PillPusher
Those massive option sizes might be the idiots on WSB, who take out loans to buy MU calls 
Posted on 9/7/18 at 6:41 am to Jack Ruby
quote:
I don't know about federal Court, but I know in state Court you would never plead guilty until you've struck your deal with the prosecutor.
federal court isn't the same. there are sentencing guidelines and deals aren't really struck the same way
pleading pre-indictment and cooperating with the investigation are 2 big ways to get your points down, so THAT was likely part of the plea (prosecutors agree they won't dispute those positive things as well as some other things for the guidelines). they likely have a range they're agreeing on indirectly but it's not a direct deal
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