Mychal Kendricks, Browns linebacker, charged with insider trading
Cleveland Browns linebacker Mychal Kendricks has been charged with insider trading.
Kendricks admitted in a public statement Wednesday that he invested money with a friend who worked for Goldman Sachs, and while he did not know all the details of the illegal trades, “I knew it was wrong, and I wholeheartedly regret my actions.”
“I was drawn in by the allure of being more than just a football player,” Kendricks wrote.
A statement from #Browns LB Mychal Kendrick, who has just been charged by the feds for insider trading. Wow. pic.twitter.com/0IEsV6lPTh Ian Rapoport (@RapSheet) August 29, 2018
The linebacker added that he did not keep any of the profits for himself, but would repay “all of the funds gained illegally.”
“I sincerely apologize to my coaches, the owners, and my teammates on the Eagles and Browns, the NFL and the magnificent fans to whom I owe my career,” Kendricks wrote. “I also apologize to my family, who I failed in this. You all deserve better, and I will work my hardest to re-earn your trust and respect, serve as an advocate to educate others, and show you that I will never be involved in anything like this again.”
Kendricks was the Philadelphia Eagles’ second-round draft pick in 2012 and played his whole career with Philadelphia up to this offseason. He made four tackles in their Super Bowl LII win over New England, but was released after requesting a trade.
He has yet to play a regular-season snap for the Browns. The team released a statement merely saying Kendricks will not travel with the team to their final preseason game at the Detroit Lions while they “gather more information.”
Our statement on LB Mychal Kendricks: pic.twitter.com/SJT4RPdo0o Cleveland Browns (@Browns) August 29, 2018