The Cleveland Browns added Mychal Kendricks to bolster the defense. But apparently he bolstered his bank account illegally so the Browns cut him.
Kendricks was involved with illegal insider trading. He has publicly admitted his guilt. He even plans to prepay the money gained from the illicit transactions.
Nonetheless, he is guilty of a felony. To compound matters, Kendricks did not inform the Browns of his role in the matter. Due to his lack of full disclosure, the Browns cut Kendricks. The Browns may not have signed Kendricks had there been full disclosure. But this is not why he is getting a raw deal.
I am not a financial expert. What is stated below is my opinion based on my experience with financial markets. The opinions expressed here are my own.
Kendricks is getting a raw deal because insider trading is a common occurrence in the financial world. There is debate within the financial world about whether or not insider trading should be completely legalized. Mind you, there already are legal forms of insider trading that commonly occur.
Insider trading is when someone executes trades based on information about a security that is not yet public. In such cases, that information is considered to be inside information. When that information is used for personal gain, it is a felony. The damage of insider trading is done to the average investor who continues to trade based on public information. The insider trader is taking advantage of inside information to the harm of a company or private investors.
What is wrong with insider trading and how is it regulated?