The National Football League (NFL) has dealt with many negative headlines over the years when it comes to the behavior of players, coaches, and executives. Unfortunately, incidents involving allegations of domestic violence, drunk driving, and substance abuse have become a tradition nearly as familiar as the Super Bowl.
The charges recently levied against linebacker Mychal Kendricks were anything but common for NFL players, raising eyebrows throughout the league and around the nation.
Kendricks, who was released by the Cleveland Browns after the charges were brought, pleaded guilty to the charges of insider trading. Kendricks said he went forward with the guilty plea because it was “the right thing to do”.
“I know that I made the decision to accept information, secret information, and it wasn’t the right thing to do.” His sentencing in the case is scheduled to take place on December 18. (Source: “Ex-Browns LB Mychal Kendricks pleads guilty to insider trading charges“, ESPN)
This case goes to highlight just how vulnerable any investor is to charges of insider trading. As the nation found out when Martha Stewart was charged in the 2000s and more recently when Rep. Chris Collins (R-NY) was charged, your position or status will not safeguard you from the consequences of insider trading.
Cases such as those involving Kendricks and Rep. Collins also stand in stark contrast to the emerging perception that white collar crimes prosecutions are slipping through the cracks and not being taken seriously.
If you have been charged or are under investigation for insider trading or related crimes, a strong legal defense is a necessity. A conviction can have lifelong consequences for you and your family. If it can happen to an NFL player, it can happen to you.