Browns linebacker Mychal Kendricks is currently in some deep trouble with the law.
Early this morning, the Philadelphia US Attorney General brought charges against Kendricks and another man for insider trading.
— Jeremy Roebuck (@jeremyrroebuck) August 29, 2018
— NFL Update (@MySportsUpdate) August 29, 2018
Apparently Kendricks made $1.2 million in the scheme.
Kendricks provided thousands in cash and #Eagles tickets in exchange for insider stock information. Authorities say Kendricks made a large profit, around $1.2M.
— NFL Update (@MySportsUpdate) August 29, 2018
Via NBC Philadelphia.
Kendricks made nearly $1.2 million by trading ahead of four acquisition announcements, according to officials. He is currently a linebacker for the Cleveland Browns.
Damilare Sonoiki, a former partner at a global investment bank, is also being charged with insider trading for receiving kickbacks from Kendricks, including Eagles tickets and other perks, officials said.
Sonoiki set up a bank account that Kendricks could access, according to investigators. Soon after they began their trading and used coded language in a text to disguise the initial $80,000 transfer into the account.
Kendricks paid Sonoiki in cash during in-person meetings, including one at Philadelphia’s 30th Street Station.
Kendricks released a statement shortly after the indictment and admitted guilt while vowing to pay back all the money he stole.
— Ian Rapoport (@RapSheet) August 29, 2018
The Browns also released a statement following Kendricks indictment.
— Cleveland Browns (@Browns) August 29, 2018
The Kendrick news comes the night after the Browns linebacker caused a firestorm for criticizing his former Eagles teammates during last night’s episode of Hard Knocks.
“Playing with Nick Foles, I realized on his long balls he has like a tear-drop effect. So (CBS), he’s a little slower on that ball coming in.”
“No. 86 is the best receiver on the team. Notice I say receiver…”
— Adam Schefter (@AdamSchefter) August 29, 2018
— Paul Domowitch (@pdomo) August 29, 2018
— John Barchard (@JohnBarchard) August 29, 2018
Of course the Internet had some hilarious reactions to the bizarre Kendricks’ news.
— Arkansas Fred (@ArkansasFred) August 29, 2018
— $amaveli (@iThinkIam_SOSA) August 29, 2018
The Feds: you are under arrest sir
— Scott T. (@NHLFlyera) August 29, 2018
— EROCK (@TheMightyEROCK) August 29, 2018
— Drew Magary (@drewmagary) August 29, 2018
