On Wednesday morning, a truly bizarre story broke linking a Cleveland Browns linebacker to insider trading charges. Mychal Kendricks, formerly of the Philadelphia Eagles, apologized on Wednesday after being charged with insider trading.
Kendricks admitted to the charges and said he accepts "full responsibility for my actions" and that he "knew it was wrong." The new Browns linebacker revealed he participated in insider trading four years ago.
Kendricks was indicted along with Damilare Sonoiki, a TV writer. Sonoiki, a former Harvard grad, is accused with passing along inside information to Kendricks from 2013-15 in exchange for game tickets.
ESPN revealed new details, including how much Kendricks reportedly made from the investments.
Kendricks allegedly made a profit of nearly $1.2 million from four separate investments tied to insider trading four years ago. Damilare Sonoiki, a television writer, also has been charged with assisting Kendricks in his investments.
The Browns released a statement declaring Kendricks won't travel with the team to Detroit for their last preseason game.
Philadelphia drafted Kendricks in the second round of the 2012 NFL draft. He spent his first six seasons with the Eagles before being released by the team earlier this offseason.
Kendricks signed a one-year deal with the Browns.