While Mychal Kendricks awaits sentencing in December, the linebacker isn't ousted from the National Football League just yet. He was immediately released from Cleveland, where he had signed a one-year contract in the offseason.
Kendricks, 27, is a six-year National Football League veteran who, prior to Cleveland, had spent his entire career with the Philadelphia Eagles.
"Four years ago, I participated in insider trading, and I deeply regret it", Kendricks said via statement. His sentencing is for January 24. And while that's notable in and of itself, what's even more notable is why he is available in the first place - he was released by the Cleveland Browns after he was charged with insider trading, something he pled guilty to last week. Kendricks allegedly made investments on business enterprises back in 2014 based on information illegally shared by former Goldman Sachs employee turned TV writer Damilare Sonoiki.
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The 27-year-old, who won a Super Bowl ring with the Eagles last season, came under scrutiny from the SEC after he managed to turn an $80,000 investment into almost $1.2 million over an eight-month period.
On Aug. 29, both men were indicted on one count of conspiracy to commit securities fraud and one count of securities fraud.
We'll see as this all unfolds what type of punishment Kendricks will face for his actions.