On Wednesday, Cleveland Browns linebacker and 2017 Super Bowl Champion Mychal Kendricks was charged with insider trading, alongside former “Black-ish” writer, Damilare Sonoiki.
According ESPN, Kendricks was slapped with federal charges for scamming $1.2 million in illegal profits on four major investments with the help of Sonoiki and his previous experiences as an investment banker.
In exchange for insider information between 2013 to 2015, Kendrick allegedly broke Sonoiki off with $10,000 in cash, Eagles tickets and even arranged for the television writer to meet Harlem’s own Teyana Taylor.
As a result, both were hit with charges, and now face “substantial prison time” if convicted. In the meantime, Kendricks has released a statement, apologizing for his role in the illegal affairs.
“I would like to apologize,” Kendricks said in the statement. “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.”⠀⠀⠀⠀⠀⠀⠀⠀⠀
“To this point, I had worked my tail off since I was 5 years old to become a football player. I was drawn in by the allure of being more than just a football player. 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.”
As he continued, he revealed that he has been cooperating with officials and “will continue to do so,” as he prepares to pay back the illegal profits.
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“I sincerely apologize to my coaches, the owners, and my teammates on the Eagles and the Browns, the NFL, and the magnificent fans to whom I owe my career,” Kendricks said. ”I also apologize to my family, who I have failed in this. You all deserve better, and I will work my hardest to re-earn your trust and respect, serve as an advocate to educate others, and show you that I will never be involved in anything like this again.”
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