Browns Linebacker Mychal Kendricks Charged With Insider Trading

August 29, 2018 at 9:04 am by Terez in Cleveland Browns, Mychal Kendricks, NFL

Via 6ABC: “According to investigators, Damilare Sonoiki allegedly provided Kendricks with information about his investment bank’s clients, including non-public information about pending mergers and acquisitions. Kendricks would use that information to buy call options, then sell those call options for a profit after mergers were announced, McSwain said. Kendricks made a profit of $1.2 million, investigators say. In return, investigators said Kendricks provided Sonoiki with $10,000 in cash and tickets to Eagles games.” Kendricks says in a statement released by his lawyer Wednesday that he’s sorry and “deeply” regrets his actions. He says he “didn’t fully understand all of the details of the illegal trades.” – TO