Mychal Kendricks Released by Browns After Insider Trading Charges

Rob Goldberg@TheRobGoldbergFeatured ColumnistAugust 30, 2018

Cleveland Browns linebacker Mychal Kendricks stretches during the team's organized team activity at its NFL football training facility Tuesday, June 5, 2018, in Berea, Ohio. (AP Photo/Ron Schwane)
Ron Schwane/Associated Press

The Cleveland Browns released linebacker Mychal Kendricks following charges of insider trading, the team announced Wednesday.

General manager John Dorsey provided a statement on the team's decision, noting "circumstances have changed" from when he signed with Cleveland in the offseason, via Daryl Ruiter of 92.3 The Fan:

Kendrick allegedly made about $1.2 million "by trading ahead of four acquisition announcements" and has been charged with "conspiracy to commit securities fraud and committing securities fraud," per Alicia Victoria Lozano of NBC Philadelphia.

He faces a maximum prison sentence of 25 years as well as a $5.25 million fine.

Kendricks admitted fault to his actions in a prepared statement Wednesday, per Darren Rovell of ESPN:

According to Mary Kay Cabot of Cleveland.com, the Browns were aware the 27-year-old was part of an investigation when they signed him, but they did not know he was the focus.

He signed a one-year, $2.25 million deal in June.

Kendricks spent his first six seasons in the NFL with the Philadelphia Eagles, starting in the team's Super Bowl win last February. He started 74 of the 85 games he has played in since the Eagles drafted him in 2012.

Joe Schobert and Christian Kirksey will remain key parts of Cleveland's defense with Kendricks no longer on the team.   

Related

    Jackson Holds Off NFC in Offensive MVP Performance

    NFL logo
    NFL

    Jackson Holds Off NFC in Offensive MVP Performance

    Timothy Rapp
    via Bleacher Report

    Lamar Jackson Wins Offensive MVP at Pro Bowl

    Calais Campbell wins defensive award honors

    NFL logo
    NFL

    Lamar Jackson Wins Offensive MVP at Pro Bowl

    Joseph Zucker
    via Bleacher Report

    NFLPA Schedules Meeting to Discuss Status of New CBA Talks

    NFL logo
    NFL

    NFLPA Schedules Meeting to Discuss Status of New CBA Talks

    Rob Goldberg
    via Bleacher Report

    Brees to Reveal Saints Future, Retirement Plan in 'A Month or So'

    NFL logo
    NFL

    Brees to Reveal Saints Future, Retirement Plan in 'A Month or So'

    Rob Goldberg
    via Bleacher Report