Mychal Kendricks released by Browns after being indicted on insider trading charges

0
1055

Cleveland Browns linebacker Mychal Kendricks may have ruffled some feathers in Philadelphia this week when his latest comments on HBO’s “Hard Knocks” highlighted perceived weaknesses in some of his former Eagles teammates.

But Kendricks appears to have much bigger concerns now.

The Super Bowl LII champion has been charged by federal authorities with insider trading, U.S. attorney William McSwain announced in Center City, Philadelphia, on Wednesday. A few hours after learning of the charge, the Browns decided to cut ties with Kendricks, who had just signed with the team in June.

Tied to illegal investments he made in 2014, when he was still playing for the Eagles, the charges are likely to precede a guilty plea by the linebacker, as The Philadelphia Inquirer’s Jeremy Roebuck reported.

TV writer and former Goldman Sachs analyst Damilare Sonoiki was “brazenly passing along insider information,” including heads-ups on stock mergers and acquisitions, to Kendricks from 2013 to 2015,” Roebuck reported via Twitter. In exchange for the inside information, Kendricks allegedly provided $10,000 in cash and Eagles tickets to Sonoiki.

Although it appears Kendricks let the Browns know some of the details of the situation before he signed in June, it seems like he may have misled the team. According to general manager John Dorsey, Kendricks painted himself as a victim in the case.

LEAVE A REPLY