Mychal Kendricks to Pay $1.2M for Insider Trading Plus $5.2M Penalty
VladTV
Staff Writer
Mar 19, 2020 9:41 PM
According to The Blast, Seattle Seahawks star Mychal Kendricks has been ordered to pay nearly $1.2 million to settle an insider trading lawsuit. Court documents show that Kendricks reached a deal with the Securities and Exchange Commission and will be ordered to pay $1,188,075, which is the amount he made from his insider trading.
Despite striking a civil settlement, Kendricks still faces criminal charges associated with the case which carries a maximum 25-year prison sentence and will be ordered to pay a penalty of $5.2 million. He is scheduled to be sentenced later this month.
Kendricks was charged with conspiracy to commit securities fraud and one count of securities fraud in Oct. 2018 after using information from a friend who was a banker at an investment firm to make a profit in exchange for cash kickbacks, NFL tickets, and other means of access.
https://www.vladtv.com/article/261342/mychal-kendricks-to-pay-1-2m-for-insider-trading-plus-5-2m-penalty
VladTV
Staff Writer
Mar 19, 2020 9:41 PM
According to The Blast, Seattle Seahawks star Mychal Kendricks has been ordered to pay nearly $1.2 million to settle an insider trading lawsuit. Court documents show that Kendricks reached a deal with the Securities and Exchange Commission and will be ordered to pay $1,188,075, which is the amount he made from his insider trading.
Despite striking a civil settlement, Kendricks still faces criminal charges associated with the case which carries a maximum 25-year prison sentence and will be ordered to pay a penalty of $5.2 million. He is scheduled to be sentenced later this month.
Kendricks was charged with conspiracy to commit securities fraud and one count of securities fraud in Oct. 2018 after using information from a friend who was a banker at an investment firm to make a profit in exchange for cash kickbacks, NFL tickets, and other means of access.
https://www.vladtv.com/article/261342/mychal-kendricks-to-pay-1-2m-for-insider-trading-plus-5-2m-penalty
