Ken Blaze-USA TODAY Sports

Linebacker who helped Eagles beat Patriots in Super Bowl busted for insider trading

Lucy Burdge
August 29, 2018 - 11:25 am

Browns linebacker Mychal Kendricks has been indicted on insider trading charges, federal authorities announced on Wednesday.

U.S. Attorney William M. McSwain stated in a news conference that an employee at an investment bank gave Kendricks private information that he used to make about $1.2 million in profits. Kendricks then gave the employee, Damilare Sonoiki, kickbacks that included cash and tickets to NFL games.

If convicted, both Kendricks and Sonoiki could face "substantial prison time."

Kendricks apologized on a statement released on Wednesday.

"I would like to apologize," the statement reads. "Four years ago, I participated in insider trading, and I deeply regret it. I invested money with a former friend of mine who I thought I could trust and who I greatly admired. His background as a Harvard graduate and an employee of Goldman Sachs gave me a false sense of confidence."

Kendricks signed a one-year contract with the Browns in June. Before that he played for the Eagles from 2012-2018 and helped the team beat the Patriots to win the Super Bowl last season. 

Tune in to see if they address this in any upcoming episodes of Hard Knocks this season.