Browns LB Mychal Kendricks Charged With Insider Trading

Browns LB Mychal Kendricks released a statement to Ian Rapoport after being charged by the feds for insider trading.

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

Our statement on LB Mychal Kendricks: pic.twitter.com/SJT4RPdo0o

— Cleveland Browns (@Browns) August 29, 2018

Jeremy Roebuck reports that Kendricks and ‘Black-ish’ TV writer Damilare Sonoiki have been charged by way of a criminal information. Sonoiki was “brazenly” passing along insider information to Kendricks from 2013-2015.

For the information, Kendricks allegedly provided $10,000 in cash and Eagles tickets, per Roebuck. The two men made nearly $1.2 million off of the insider trading scheme.

Roebuck adds that the SEC says they were able to link trades in Kendricks’ trading account to an IP address associated with Sonoiki.

Kendricks, 27, is a former second-round pick of the Eagles back in 2012. He was entering the fourth year of his five-year, $29.896 million contract that included $16.4 million guaranteed and set to make a base salary of $5.85 million for the 2018 season when the Eagles designated him as a post-June 1 release a few months ago.

The Browns later signed Kendricks to a one-year contract worth a maximum of $3.5 million.

In 2017, Kendricks appeared in 15 games for the Eagles and recorded 77 tackles, two sacks and six pass defenses for the Eagles.

We’ll have more regarding Kendricks as the news is available.