Report: Mychal Kendricks Faces Suspension After Insider Trading Charge

Free-agent linebacker Mychal Kendricks reportedly could face an NFL suspension after being charged with insider trading.

According to Charles Robinson of Yahoo Sports, Kendricks will be investigated under the NFL's personal conduct policy.

The Cleveland Browns released Kendricks on Wednesday after the charges became public.

Per NFL Network's Ian Rapoport, Kendricks released the following statement Wednesday regarding the charges against him:

Kendricks apologized and pledged to pay back the money accrued through illegal insider trading. He said he invested money with a "former friend" who worked for Goldman Sachs.

After the Browns cut Kendricks, general manager John Dorsey released a statement on the matter saying the Browns were aware of a "financial situation" Kendricks had been involved with in 2014 when they signed him this offseason.

He added that the decision to release Kendricks occurred because the "circumstances have changed" regarding Kendricks' status.

The 27-year-old Kendricks spent the first six seasons of his NFL career with the Eagles after they selected him in the second round of the 2012 NFL draft out of California.

Kendricks helped the Eagles win their first-ever Super Bowl title last season, but they released him in May.

Prior to being let go by the Browns, Kendricks was listed as the backup to Joe Schobert at middle linebacker.