Mychal Kendricks, the Super Bowl-winning linebacker is facing up to 25 years in prison after pleading guilty to charges of insider trading.
According to the prosecutors in over two years working with a former Goldman Sachs analyst, Kendricks made around $1.2m (£0.92m). The 27-year-old, Kendricks admitted that he swapped cash, NFL tickets and access to parties for market-shifting information.
Last season, he won the Super Bowl with the Philadelphia Eagles before joining the Cleveland Browns in June. In December, he will be sentenced. On 29th August, his one-year contract was terminated by Cleveland.
At the time, Kendricks released a statement in which he said he “deeply regretted” becoming involved with “a former friend of mine who I thought I could trust”.
He added: “Four years ago, I participated in insider trading. While I didn’t fully understand all of the details of the illegal trades, I knew it was wrong, and I wholeheartedly regret my actions. To this point, I had worked my tail off since I was five years old to become a football player. I was drawn in by the allure of being more than just a football player.
“Although I did not take any of the profits for myself, I am committed to repaying all of the funds gained illegally. I accept full responsibility for my actions.”
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