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Former Cleveland Browns linebacker Mychal Kendricks pleaded guilty to insider trading, Philly.com reported Thursday. Kendricks, who had his contract terminated by the Browns after he was formally charged on Aug. 29, could face up to 25 years in prison. He is scheduled to be sentenced in December.
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The 27-year-old Kendricks acknowledged wrongdoing in a Philadelphia courtroom when he was asked by U.S. District Judge Gene E.K. Pratter why he decided to plead guilty.
"Because I know I was wrong," said Kendricks, per Philly.com. "I know that I made the decision to accept information, secret information, and it wasn't the right thing to do."
Kendricks allegedly made a profit of nearly $1.2 million from investments tied to insider trading four years ago. Damilare Sonoiki, a Goldman Sachs analyst who was charged with assisting Kendricks, also pleaded guilty.
Kendricks, who apologized last week in a statement released by his attorney, could be subject to discipline under the NFL's personal conduct policy.
A second-round pick of the Eagles in the 2012 NFL Draft, Kendricks spent his first six seasons with Philadelphia before he was released by the team in May. He signed a one-year deal with the Browns the following month.
The Browns said they were aware that Kendricks had been involved in a "financial situation" in 2014 but were told that he had fully cooperated with investigators as a victim.
Kendricks recorded 77 tackles, two sacks and six pass breakups in 15 games last season for the Eagles. He has collected 459 tackles, 14 sacks and three interceptions in 85 career contests for Philadelphia.
