Browns linebacker Mychal Kendricks charged with Insider Trading

By ALEX RASKIN SPORTS NEWS EDITOR FOR DAILYMAIL.COM and ASSOCIATED PRESS

Cleveland Browns linebacker Mychal Kendricks has been charged with using insider trading tips from an acquaintance to make about $1.2 million in illegal profits on four major trading deals, federal prosecutors announced Wednesday.

Co-defendant Damilare Sonoiki was paid $10,000 in kickbacks in the scheme from 2014-2015, as well as perks like tickets to Philadelphia Eagles games, said U.S. Attorney William McSwain. Kendricks played for the Eagles before signing with the Browns in June.

‘Four years ago, I participated in insider trading, and I deeply regret it,’ Kendricks’s statement read. ‘I invested money with a former friend of mine who I thought I could trust and who I greatly admired. His background as a Harvard graduate and an employee of Goldman Sachs gave me a false sense of confidence.’

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