Cleveland Browns linebacker Mychal Kendricks faces insider trading charges

first_imgAugust 29, 2018 /Sports News – National Cleveland Browns linebacker Mychal Kendricks faces insider trading charges Written by FacebookTwitterLinkedInEmail2018 Nick Cammett/Diamond Images/Getty Images(CLEVELAND) — Cleveland Browns linebacker Mychal Kendricks has conceded that he “participated in insider trading” four years ago and deeply regrets it.“I was drawn in by the allure of being more than just a football player,” Kendricks said in a statement released by his attorney Michael Schwartz. “While I didn’t fully understand all of the details of the illegal trades, I knew it was wrong, and I wholeheartedly regret my actions.”Kendricks said he trusted a former friend, Damilare Sonoiki, who had a Harvard degree and was working for Goldman Sachs at the time. Sonoiki later worked as a writer on the second season of the ABC comedy “Black-ish.”Trump blasts NFL players for kneeling during anthem: ‘Stand proudly …. or be suspended without pay’Both men now face insider trading charges brought by federal prosecutors in Philadelphia.“Mr. Sonoiki and Mr. Kendricks are alleged to have cheated the markets, cheated other investors and placed themselves above the law,” said Bill McSwain, the U.S. Attorney for the Eastern District of Pennsylvania.In the second half of 2014, court records said Sonoiki sent coded text messages and FaceTime conversations from his desk at Goldman Sachs to tip Kendricks off to corporate mergers.Kendricks allegedly made $1.2 million in illegal profits by purchasing securities in companies that were soon to be acquired and then selling his positions after the deals were publicly announced. In one instance, he made a nearly 400 percent return on his investment in just two weeks, court records said.“Mychal Kendricks used material non-public information, provided by his co-defendant, to score significant profits from expected market moves,” said the FBI Special Agent Christian Zajac. “That’s not merely gaming the system—that’s a federal crime.”According to court records, Kendricks rewarded Sonoiki for his tips with cash kickbacks, free NFL tickets and an evening on the set of a pop star’s music video, in which Kendricks made a cameo appearance.“Kendricks paid cash and shared celebrity perks for illegal tips that enabled him to trade and profit on confidential information that the rest of the investing public didn’t have,” said Stephanie Avakian, co-director of the U.S. Securities and Exchange Commission’s Division of Enforcement.Neither Kendricks nor Sonoiki are currently in custody. Kendricks has acknowledged his actions and is cooperating with authorities.The NFL pro is a sixth year outside linebacker who was drafted out of the University of California, Berkeley.For the first five years of his career, Kendricks played for the Philadelphia Eagles and won the Super Bowl with the team last year.“We are aware of the situation and in communication with the league office as we gather more information. Mychal will not make the trip to Detroit. We will comment further at the appropriate time,” the Kendrick’s current team the Cleveland Browns said in a statement.The Eagles have not returned ABC News’ request for comment.Sonoiki could not be reached for comment.Copyright © 2018, ABC Radio. All rights reserved.center_img Beau Lundlast_img read more

May opposes ‘safe space’ policies in universities

first_imgIn Wednesday’s Prime Minister’s Questions, Theresa May argued that self-censorship in universities curtailed freedom of speech and could negatively impact Britain’s overall economic and social success.May declared, “We want our universities not just to be places of learning but to be places where there can be open debate which is challenged and people can get involved in that. I think everybody is finding this concept of safe spaces quite extraordinary, frankly. We want to see that innovation of thought [is] taking place in our universities. That’s how we develop as a country, as a society and as an economy.”The Prime Minister spoke in answer to a question from Victoria Atkins, the Conservative MP for Louth and Horncastle, who declared that freedom of speech was a “fundamental British value” undermined by university ‘safe spaces’, “where a sense of righteous entitlement by a minority of students that mean that their wish not to be offended shuts down debate.”‘Safe spaces’, as defined by the Safe Space Network, are places where “anyone can relax and be able to fully express, without fear of being made to feel uncomfortable, unwelcome, or unsafe on account of biological sex, race/ethnicity, sexual orientation, gender identity or expression, cultural background, religious affiliation, age, or physical or mental ability.”May’s comments come amid fierce and ongoing debate among academics, politicians and students about limits on the right to free speech on campus.In December last year academics such as Frank Furedi, professor of sociology at the University of Canterbury, and Joanna Williams, education editor at Spiked, criticised criticised the “small but vocal minority of student activists” arguing for universities to become “safe spaces” in the Telegraph. They warned of attempts in universities to “immunise academic life from the intellectual challenge of debating conflicting views.” Oxford University’s Vice Chancellor Professor Louise Richardson has also given indicators that she may not be in favour of ‘safe spaces’, highlighting in her inaugural speech the duty of universities to ensure students “appreciate the value of engaging with ideas they find objectionable”.However, in May 2016, the university decided to issue “trigger warnings”, or alerts of upcoming content that might upset some in the audience, to undergraduate law students attending lectures on criminal law. Lecturers make these before covering material which is deemed “distressing”, particularly detailed descriptions of sexual offences which may have traumatic effects on rape victims.Notably, Marine Le Pen’s speech at the Oxford Union in February last year attracted significant protest, with some 300 students demonstrating outside the Union building, disputing Le Pen’s right to speak publicly in Oxford under free speech laws.As of 2015, the University’s official code of practice states that “the University believes that a culture of free, open and robust discussion can be achieved only if all concerned avoid needlessly offensive or provocative action and language.”last_img read more

Video: Press Pass – Brad Keselowski

first_img___________________________________________________________________________________________We apologize. We are having technical issues with our comment sections and fan community and it is temporarily unavailable. We are actively working on these issues and hope to have it up and running soon. We are also working on enhancements to provide a better forum for our fans. We appreciate your patience and apologize for the inconvenience.last_img

New Mexico State Police officer shot and killed on highway

first_imgDEMING, N.M. (AP) — Authorities say a New Mexico State Police officer making a traffic stop was fatally shot on a highway and that the attacker was chased and later died in a shootout with authorities. The officer who was killed Thursday has been identified as Darian Jarrott. He had been a state police officer since 2015. The attacker was identified by authorities as 39-year-old Omar Felix Cueva. The state police have said Jarrott was assisting U.S. Homeland Security Investigations on Thursday. State Police Chief Robert Thornton says Cueva was on his way to the city of Las Cruces to do a drug deal.last_img read more

SMC juniors host moms

first_imgSaint Mary’s annual Junior Mom’s weekend attracted 540 moms, aunts and sisters this year, according to junior class president Maggie Carswell.Carswell said this weekend attracted the most for any parent weekend at the College including First-year Parent’s Weekend, Sophomore Parent’s Weekend and Senior Dad’s Weekend.The weekend kicked off on Friday with a wine and cheese reception. The board also invited vendors including Adesign & Sons, Inspire Me! and Saint Margaret’s House to sell items like jewelry and scarves.Saturday began with yoga in the morning followed by yogurt and granola bars. Saturday afternoon events included cupcake decorating, Mass at the Church of Our Lady of Loretto and culminated with dinner at the Hilton Garden Inn with President Carol Ann Mooney.“I’m excited for the dinner with President Mooney,” Carswell said. “It will be really nice for everyone to spend time with her [since] a lot of the moms are alumnae.”Junior class vice president Aly Parrett said the weekend provides Saint Mary’s women an opportunity to bond with their moms and friends.“I hope they get to cherish these moments,” Parrett said. “When you’re in college you don’t get to spend a lot of time with family. I hope [the juniors] are able to spend time and make memories.”Junior Johna Mitchem said she thought the weekend was well planned.“I loved having all the mom’s around,” Mitchem said. “I thought I was a nice balance of doing things and having time with our moms on our own.”Mitchem said the dinner at the Hilton Garden Inn was her favorite part of the weekend.“Just being able to hang out with my friends and my friends’ moms meant so much to me to have my mom here this weekend,” she said. Mitchem said it was nice to share her weekend activities with her mom.“I really enjoyed showing my mom my favorite parts of Saint Mary’s and Notre Dame.”Carswell said planning the weekend was a difficult, but rewarding experience. She and Parrett credited the other class boards for helping to make the weekend run smoothly by serving as volunteers.“It’s not easy planning this, it’s hard,” she said. “We try to make a weekend that everyone will enjoy. It’s not easy, but it’s worth it.”News Writer Stephanie Snyder contributed to this report.Tags: Junior Class Board, Junior Moms Weekendlast_img read more

Fanning Lecture

first_imgBy Cat HolmesUniversity of GeorgiaThe 18th annual J.W. Fanning Lecture will be held on Wednesday, Dec. 11 at the Georgia Center for Continuing Education on the University of Georgia campus in Athens. Georgia is the top-producing poultry state in the country and economists estimate the total economic impact of poultry in the state to be over $13 billion annually. The topic should be of interest to anyone interested in Georgia’s economy, particularly those interested in poultry, export business or international trade, said Fred White, an agricultural economist with UGA’s College of Agricultural and Environmental Sciences. “There is a lot happening now with international trade in poultry,” White said. “Recent trade disputes with Russia have been resolved. We are just opening up the Cuban market. And international trade negotiations are beginning with the World Trade Organization.” Eric J. Joiner, president, COO and co-founder of AJC International, a global frozen food distribution company, will be the featured speaker. Joiner, who received his MBA from Georgia State University, will speak on the “Dynamics of the Global Poultry Market.”A world authority on poultry “The greatest potential for future growth of the poultry market lies in other countries,” said Mike Lacy, poultry scientist at UGA. “Eric Joiner is the former chairman of the U.S. Poultry and Egg Export Council and is a member of the board of directors. He is one of the world’s authorities on U.S. poultry exports.” AJC International was founded in Atlanta in 1972 by Joiner and Gerald Allison. They began with a staff of four at a time when American suppliers focused primarily on their best market – the U.S. One of the largest food distributorsIn the last thirty years, AJC International has grown with the world economy, evolving its original customer base in Puerto Rico to one that encompasses the globe. Today the company maintains its corporate office in Atlanta and foreign offices in the Netherlands, Puerto Rico, Hong Kong, Argentina and China. The company is now one of the world’s largest food distribution services, marketing poultry, pork, red meat, seafood, vegetables and fruits to North and South America, Europe and Asia. Consumers will recognize AJC International’s products under the Amerifoods, Early Dawn, Frosty Acres, Garden Maid, Golden Phoenix, Grande, and Mity Fresh brand names. The J.W. Fanning Lecture Series is sponsored by the Agricultural Economics Association of Georgia, the departments of Agricultural & Applied Economics and Poultry Science at UGA and the Office of International Public Service and Outreach at UGA. The lecture series is named in honor of Dr. J.W. Fanning, former vice president for services and professor of agricultural and applied economics at UGA. Fanning was instrumental in developing public service and outreach at UGA.The lecture will begin at 10:30 a.m. in Rooms K/L of the Georgia Center for Continuing Education in Athens on Wednesday, Dec. 11, 2002. Registration and a reception will begin at 10:00 a.m. on the 2nd floor concourse.A luncheon and awards ceremony will follow at noon in the banquet area of the Georgia Center. Gaylord Coan, a distinguished alumnus of UGA’s Agricultural and Applied Economics Department, will be presented the CAES Alumni Association 2002 Award of Excellence. For more information call (706)542-2481.last_img read more

Jokowi expects normal prices for staple foods as Ramadan approaches

first_img“We also have to ensure the logistics works smoothly because the staple food needs to be available in the markets,” said Jokowi.“I expect the home minister to reprimand regional leaders who close roads in an effort to make sure the logistics are free from disruption. Yesterday, I received reports from two regions that the distribution of rice was disrupted because some roads were closed.”As of Thursday, there are 1,790 confirmed COVID-19 cases across the nation, with 170 deaths and 112 recovered cases. Jakarta became the national epicenter of the outbreak, accounting for 897 confirmed cases, more than half of the national figure.As such large-scale social restrictions were expected to hit people with low incomes the hardest, the government was allocating Rp 405 trillion for, among other things, health care and social safety net programs, including the Family Hope Program, Staple-Food Card, Preemployment Card and electricity subsidies.Read also: Government expedites imports of staple needs to stabilize pricesThe government has launched social safety net programs aimed at helping low-income people make ends meet while going into self-quarantine. Many citizens, especially poor ones, had ignored the government’s instruction to stay at home because they had to go to work.President Jokowi had also urged religious and civil society organizations to encourage people to implement social distancing measures.The government had declared the COVID-19 outbreak a public health emergency, imposing large-scale social restriction measures. It temporarily suspended schools and offices, as well as religious and public activities.“It is important to tell them the importance of hand washing, reducing mobility outside their homes, wearing face masks and implementing large-scale social restrictions, which is in line with the health protocols both inside and outside their houses,” said Jokowi.Topics : The Jakarta office of Statistics Indonesia (BPS Jakarta) recorded that the average price of sugar in the capital city had risen by 20.62 percent to Rp 15,583 per kg, while garlic rose by 0.21 percent to Rp 44,465 per kg.Read also: Staple foods safe, but masks, sanitizer gone from markets as consumer behavior shiftsApart from ensuring supply, the government planned to prevent the commodity’s distribution from being disrupted as some regions across the country were closing roads in an effort to enforce large-scale social restrictions to prevent the spread of COVID-19.A number of regions had closed major roads and borders, as well as enforced curfews to prevent the disease from spreading, including Tegal in Central Java, Bandung in West Java and Balikpapan in East Kalimantan. President Joko “Jokowi” Widodo says he expects the prices of staple needs to return to normal as the government works to ensure enough supplies for the upcoming Islamic holy month of Ramadan, slated to start on April 23.“I have checked with Bulog [the State Logistics Agency] and regions regarding the harvest. I see that rice, meat, egg, sugar, wheat and other staple needs are still in good condition,” Jokowi said during an online meeting with his ministers on Thursday.Authorities had been procuring additional supplies of staple foods to prevent their market prices from surging ahead of Ramadan. Among the commodities are sugar, the price of which was expected to be about Rp 12,500 (76 US cents) per kilogram, and garlic, which would cost between Rp 20,000 and Rp 30,000 per kg.last_img read more

Governor Wolf Celebrates Landmark Animal Protection Legislation Becoming Law Today

first_img SHARE Email Facebook Twitter 5.    Grants civil immunity for veterinarians and veterinary techniciansShields licensed doctors of veterinary medicine, technicians, and assistants who report animal cruelty in good faith from lawsuits. 3.    Increased penalties for animal abuseNeglect Penalties: Summary offense (up to 90 days in jail and/or a $300 fine) OR misdemeanor of the third degree (up to 1 year in jail and/or $2,000 fine) if neglect causes bodily injury or places the animal at imminent riskCrueltyPenalty: Misdemeanor of the second degree (up to 2 years in jail and/or a $5,000 fine) Aggravated crueltyPenalty: Felony of the third degree (up to 7 years in jail and/or a $15,000 fine) 2.    Added protections for horsesCurrently, most crimes against horses are graded as summary offenses — similar to traffic and littering violations.This law aligns penalties for crimes against horses with penalties for crimes against dogs and cats. 4.    Ensures convicted animal abusers forfeit abused animals to a shelterRequires forfeiture of animal of anyone convicted of a felony violation and allows for fortitude upon other convictions.center_img Animal Welfare,  Press Release Harrisburg, PA – Governor Tom Wolf today reminded Pennsylvanians that the first significant strengthening of Pennsylvania’s animal protection statutes in nearly 30 years, Act 10 of 2017, becomes law today.“Today is a day of celebration as the animal abuse statue overhaul officially becomes law,” said Governor Wolf. “For far too long we have heard stories of neglected and abused animals who suffered or died because of deplorable treatment and horrible living conditions. I am proud that we will now hold our pet and animal owners to a higher standard of humanity. I again want to thank our partners and advocates for their work in making this law possible.”Earlier this summer, the governor signed the package of bills, which includes Libre’s Law. The updated measures clarify the definition of abuse and raise penalties and training and education programs are being developed to prepare authorities responsible for protecting animals through identification and prosecution of animal cruelty crimes.Five key components of the legislation include:1.    Improved tethering conditions for outside dogsNo more than 9 hours tethered in 24-hour period.Tether must be the longer of 3 times length of dog or 10 feet.No more than 30 minutes in 90+ or -30-degree weather.Must have water and shade.Must be secured by an appropriate collar — no tow or log chain, nor choke, pinch, prong, or chain collars.Tethered space must be clear of excessive waste.No open sores or wounds on the dog’s body. Governor Wolf Celebrates Landmark Animal Protection Legislation Becoming Law Today August 28, 2017last_img read more

PensionsEurope warns of ‘continued threat’ of IORP capital requirements

first_img“To me this does not sound very single-market but rather like a problem on a national level,” Segars added.According to the PensionsEurope chairman, EIOPA plans to present Barnier’s successor – to be appointed next year following the European elections – with a fully-fledged proposal for solvency requirements for pension funds.“There is a continued threat of new solvency rules for occupational pensions, she warned.EIOPA has previously said it would be conducting a total of five consultations on issues impacting the Holistic Balance Sheet (HBS), including the recently concluded one on sponsor support.Segar stressed that Europe could not “have a one-size-fits-all solution” and pointed out a risk and solvency assessment for pension funds (ORSA) could lead to a lot more work for pensions funds, as well as increased need for external advice by consultants – which was “good news for consultants”.She called on the European Commission to focus more on the “real pension crisis Europe was facing” rather than increasing regulation.“Sixty percent of EU citizens have no access to workplace pensions, but I seldom hear the Commission talking about expanding occupational pensions,” criticised Segars.Meanwhile, she noted the market still expected a new IORP II proposal to be published before Christmas but added that she expected “they [the Commission] meant this Christmas”, referring to previous delays. The threat of the European Commission introducing solvency rules for pension funds remains, the chairman of PensionsEurope has warned.In May, internal markets commissioner Michel Barnier announced that the Commission would postpone the introduction of capital requirements, part of the revised IORP Directive’s first pillar. Joanne Segars, also the chief executive of the UK’s National Association of Pension Funds, told the PensionsEurope conference in Frankfurt this week: “The proposals are not dead yet and EIOPA [the European Insurance and Occupational Pensions Authority] continues to do work on that issue.”She added Barnier still wanted to see a level playing field established for the various pension providers.last_img read more

PGGM calls for integration of ESG ‘veto’ for all asset classes

first_imgDutch pension fund manager PGGM is to develop its ESG integration by expanding its expert “veto” policy into all asset class investments.The €178bn asset manager currently operates a policy where ESG-dedicated investment staff sit on investment committees with the right to veto transactions that do not meet set standards.Eloy Lindeijer, CIO at PGGM, said this policy allowed the manager to incorporate ESG and responsible investment decisions at the core of its business.However, the manager is now looking to expand this policy and have responsible investment staff sitting in all asset class departments. Speaking at the World Pension Summit in The Hague, Lindeijer described the policy as a “powerful change”.“[ESG staff] have strong representation on investment committees with the ability to veto transactions if they do not meet the standards we have set on perhaps remuneration,” he said.“We are now thinking about integrating this group further.”He said the team had been kept separate for many years but added that, as the fund moved from “responsible investing 2.0 to 3.0”, it needed more integration.“We are thinking about integrating the staff into the [asset class] departments,” he said.“We have not quite figured out we might do this, but, ultimately, we want to have [responsible investing] fully integrated into the whole process.”He also called on other investors wanting to increase or develop their approach to responsible investing to copy the system.“[The team] are a powerful force,” he said. “If you’re starting to think about setting up ESG practices, you should give this power to someone in your organisation who can work on develop policies and has a veto.”Lindeijer also praised the support of client PFZW, adding that its goal to be ESG-focused had given the asset manager a strong foundation to incorporate these policies.PFZW, the pension scheme for healthcare workers, recently committed to quadrupling its sustainable investments and halving its carbon footprint in six years.Peter Borgdorff, managing director of the €152bn fund, earlier told delegates a scheme’s responsibility was not only to provide income in retirement but also to help build a world members want to retire in.PGGM also reaffirmed its commitment to the Dutch housing market, as Lindeijer said the manager was now very much on the buy-side, after reducing exposure in recent years.“It is a good example of what a long-term investor should be doing,” he said.“When the market was overheating and overvalued, we were pulling back. It has dropped 20% in value, and rental incomes are good value, so we are on the buy-side.”Other Dutch pension funds have also delved into real estate and mortgages, with growing demand for the asset class, replacing government bond holdings.last_img read more