© Ken Blaze-USA TODAY Sports

Browns Linebacker Mychal Kendricks Charged With Insider Trading

August 29, 2018 - 11:36 am
Categories: 

PHILADELPHIA (AP) — Federal prosecutors in Philadelphia say Cleveland Browns linebacker Mychal Kendricks used insider trading tips from an acquaintance to make about $1.2 million in illegal profits on four major trading deals.

United States Attorney William McSwain says co-defendant Damilare Sonoiki was paid $10,000 in kickbacks as well as perks like tickets to Philadelphia Eagles games. Kendricks played for the Eagles before signing with the Browns in June.

Prosecutors say Sonoiki was a trader at an unnamed firm. An IMBD profile lists him as a writer on the popular TV series "Black-ish" as well as other movies and TV shows.

Kendricks says in a statement released by his lawyer Wednesday that he's sorry and "deeply" regrets his actions.

He says he "didn't fully understand all of the details of the illegal trades."

A message seeking comment from the federal defender representing Sonoiki wasn't immediately returned.

NFL spokesman Brian McCarthy says the league is reviewing the situation.

___
Follow 93.7 The Fan: Facebook | Twitter | Instagram
Listen to 93.7 The Fan on the Radio.com App - Download Now