Browns LB Mychal Kendricks admits to federal charges of insider trading

Mychal Kendricks browns cleveland browns Damilare Sonoiki Mychal Kendricks indicted

Mychal Kendricks browns cleveland browns Damilare Sonoiki Mychal Kendricks indicted

Mychal Kendricks, an inside linebacker now with the Browns who won Super Bowl LII with the Eagles last season, has been charged for his role in an alleged $1.2 million insider-trading scheme.

Less than 24 hours after his appearance on "Hard Knocks", the Super Bowl LII champion has been charged by federal authorities with insider trading, as USA attorney William McSwain announced in Center City, Philadelphia, on Wednesday.

According to prosecutors, Sonoiki, who is listed as a writer for various movies and TV shows including "Black-ish" according to an IMBD profile, was a trader at an unnamed firm.

Kendricks allegedly made almost $1.2 million by trading ahead of four acquisition announcements back in 2014, when he was still a member of the Philadelphia Eagles.

Kendricks released a statement shortly thereafter admitting that he took part in illegal trading activity.

"Since the beginning of the investigation, I have fully cooperated with all of the authorities and will continue to do so", Kendricks said.

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Mychal Kendricks apparently made a regrettable financial decision, and we're not talking about his decision to sign with the Cleveland Browns. 'I invested money with a former friend of mine who I thought I could trust and who I greatly admired.

"To this point, I had worked my tail off since I was 5 years old to become a football player".

Kendricks goes on to say that he was "drawn to the allure" of being more than a football player.

Originally taken in the second round of the 2012 NFL Draft out of Cal, Kendricks appeared in 85 games over six seasons for the Eagles. I accept full responsibility for my actions. Authorities also charged Sonoiki with helping to facilitate Kendricks' trades, according to the Inquirer. Kendricks allegedly provided $10,000 in cash and Eagles tickets in exchange for information. He also said he would repay all of the illegally gained funds.

'We will comment further at the appropriate time, ' the team said in a statement.

The Browns said in a statement they were aware of the situation.

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