Super Bowl champion Mychal Kendricks could face 25 years in prison for insider trading

Mychal Kendricks formally of the Philadelphia Eagles looks on during Super Bowl LII practice at the University of Minnesota in Minneapolis, Minnesota. Cleveland Browns linebacker Mychal Kendricks has been charged with insider trading after pocketing $1.2 million in a scam with a former investment banker. (AFP)
Updated 07 September 2018
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Super Bowl champion Mychal Kendricks could face 25 years in prison for insider trading

PHILADELPHIA: Former Cleveland Browns linebacker Mychal Kendricks pleaded guilty to insider trading charges on Thursday, and faces up to 25 years in prison.
US District Judge Gene E.K. Pratter asked Kendricks why he was pleading guilty.
“I’m making the decision because it’s the right thing to do,” he said, according to The Philadelphia Inquirer. “I know that I made the decision to accept information, secret information, and it wasn’t the right thing to do.”
Sentencing is scheduled for Dec. 18.
Kendricks, who signed a one-year contract with the Browns in June after winning a Super Bowl title last season with the Eagles, used tips from an acquaintance to make about $1.2 million in illegal profits on four major trading deals, federal prosecutors said.
The Browns released him from the team on Aug. 29, after the charges were filed.
Prosecutors allege that his co-defendant, Damilare Sonoiki, was paid $10,000 in kickbacks in the scheme from 2014-2015, as well as received perks like tickets to Eagles games and the chance to tag along to a music video shoot or nightclub appearances.
Sonoiki had been working as a junior analyst at Goldman Sachs but left the financial field and has most recently been writing for TV shows.
Sonoiki’s lawyer told the Inquirer in an email that his client also would plead guilty, but no date has been set.


Meet the Saudi Arabian businessman shaping squash’s Olympic dream

Updated 14 November 2018
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Meet the Saudi Arabian businessman shaping squash’s Olympic dream

LONDON: A Saudi Arabian businessman is driving the bid to get squash included in the Olympics for the first time.
The World Squash Federation has petitioned three times for squash to join the Games, but each bid has been rejected by the International Olympic Committee (IOC). The decision has prompted frustration in the squash community, particularly as sports such as climbing, surfing and skateboarding have been admitted.
Ziad Al-Turki is the Chairman of the Professional Squash Association (PSA) and has done wonders in marketing the game and broadening its appeal. He is now pushing hard for the game to be showcased on the biggest stage of all at the 2024 Olympics Games in Paris.
Squash has huge global appeal, with the men’s singles final in the last Commonwealth Games attracting a TV audience of more than one million.
“Everyone’s ultimate goal is the Olympics,” said Al-Turki. “The main push comes from the World Squash Federation (WSF) and for many years they were stuck in their ways. We changed a lot at the PSA and ticked every box with the IOC. The WSF just stayed stagnant and didn’t do anything. They didn’t want to put our hand in their hand and work together.”
Relations between the PSA and the WSF came to a head in 2015 in the wake of squash losing out to wrestling for a spot at the 2020 Olympics. A statement from the PSA described the then president of WSF, Narayana Ramachandran, as an “embarrassment to the sport.”
“Nothing could happen with the president of the WSF. Nothing would change. It was just a one-man show. We tried to help but he wouldn’t accept any help,” Al-Turki said. “We have a new president now and they are all very keen,” he added.
Jacques Fontaine is the new president and at his coronation in 2016 he encouragingly said “the Olympic agenda remains a priority.”
“The WSF love the sport and they understand the needs of the IOC,” said Al-Turki.
“They understand the PSA is at a completely different level to the WSF and we’ve now joined forces and are working together. Hopefully 2024 will be the year squash is in the Olympics. Right now, the way we are working together is the strongest collaboration ever and hopefully we can tick all the boxes for the IOC.
“We ticked all the right bodies as a professional association but the WSF didn’t. Now they are putting their hands in ours and we will tick all the right boxes for the ICO.”
Al-Turki, once described as the Bernie Ecclestone of squash, has certainly transformed the sport since he took up office in 2008.
“When I joined the PSA we didn’t have any media coverage,” he said. “Right now we are live in 154 countries. the women’s tour has just grown stronger and stronger — the income has gone up by 74 percent.
“I just love the squash players. I think they are incredible athletes are are some of the fittest athletes in the world. I felt they deserved better and I wanted them to have better.
“I don’t think we’ll be able to reach the levels of football and tennis in terms of exposure and prize money, but I want to reach a level where they will retire comfortably. It’s one of the fastest growing sports in the world right now.
“It’s all about the player and their well being. Nick Matthew retired recently and I think he’s retired comfortably. I think I’ve contributed to this as the income has improved. That’s all I want – nothing more.”