NFL star Mychal Kendricks has reached a deal with the Securities and Exchange Commission in the civil action they brought against him for insider trading.
According to documents acquired by @Blast, Kendricks will pay a total of $1,188,075. The large amount is near the same amount of money he profited from his crimes.
While this is a step in the right direction for Kendricks, the athlete still faces up to 25 years in prison for using illegal inside tips from his friend, Damilare Sonoiki, which made him over $1.2 million.
Kendricks was charged in October 2018, with conspiracy to commit securities fraud and one count of securities fraud.⠀⠀⠀⠀⠀⠀⠀
Amid his legal trouble, Kendricks was dropped from the Cleveland Browns immediately.
Kendricks pleaded guilty to the charges and, throughout the past year, has been meeting with prosecutors to come to an agreement for a settlement.
But in addition to the 25 years he’s facing, he will also be forced to pay a $5.25 million fine, which does not include the extra $1.2 million for the money he profited from the crime.
The NFL star will be sentenced later this month.
Due to his cooperation with investigators, Kendricks is likely to receive a lighter sentencing, The Blast reports.
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