Youtube/ClevelandBrowns
Youtube/ClevelandBrowns
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.
BREAKING: Former Eagles linebacker Mychal Kendricks, now with Browns, and ‘Black-ish’ TV writer Damilare Sonoiki indicted by feds on insider trading charges
— Jeremy Roebuck (@jeremyrroebuck) August 29, 2018
Wow. US Attoney in Philadelphia announces criminal charges of conspiracy against #Browns LB Mychal Kendricks and a global investment banker, and says they engaged in an insider trading deal.
— Ari Meirov (@MySportsUpdate) August 29, 2018
Apparently Kendricks made $1.2 million in the scheme.
Mychal Kendricks insider trading allegations:
Kendricks provided thousands in cash and #Eagles tickets in exchange for insider stock information. Authorities say Kendricks made a large profit, around $1.2M.
— Ari Meirov (@MySportsUpdate) August 29, 2018
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.
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 Browns also released a statement following Kendricks indictment.
Our statement on LB Mychal Kendricks: pic.twitter.com/SJT4RPdo0o
— 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.
LB Mychal Kendricks addressing the Browns on tonight’s 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
On Hard Knocks, Ex-Eagle Mychal Kendricks disparaged Zach Ertz's blocking in pre-game scouting report. "Hit his ass over and over, he don't want no smoke."
— Paul Domowitch (@pdomo) August 29, 2018
And here is Kendricks saying Ertz can’t block and Big V has bad feet pic.twitter.com/ITDibXUPfy
— John Barchard | Monetize Philly (@JohnBarchard) August 29, 2018
Of course the Internet had some hilarious reactions to the bizarre Kendricks’ news.
MYCHAL KENDRICKS CANT SUCCESSFULLY TRADE WITHOUT ACCESS TO NONPUBLIC INTEL pic.twitter.com/5Mm4Cb24FA
— AF (@ArkansasFred) August 29, 2018
Thats watt he get for talking bad about Nick foles RT @bomani_jones: wut https://t.co/EIDc3yzUEE
— $B (@Sammychocha) August 29, 2018
Mychal Kendricks: The Browns are more talented than the Eagles
The Feds: you are under arrest sir
— Scott T. (@NHLFlyera) August 29, 2018
https://twitter.com/TheMightyEROCK/status/1034814841247158273
Doesn't Mychal Kendricks know you can only do that sort of thing if you OWN the team
— Drew Magary (@drewmagary) August 29, 2018