Browns LB Mychael Kendricks facing trouble over insider trading

Chalk up another storyline for Hard Knocks to keep the cameras rolling for.

On Wednesday, news broke that Cleveland Browns LB Mychael Kendricks is under investigation and cooperating in a federal investigation over insider trading he was involved in. Here is the statement released by Kendricks:

“I would like to apologize. Four years ago, I participated in insider trading, and I deeply regret it. I invested money with a former friend of mine who I thought I could trust and who I greatly admired. His background as a Harvard graduate and an employee of Goldman Sachs gave me a false sense of confidence. To this point, I had worked my tail off since I was 5 years old to become a football player. I was drawn in by the allure of being more than just a football player. While I didn’t fully understand all of the details of the illegal trades, I knew it was wrong, and I wholeheartedly regret my actions.

Since the beginning of the investigation, I have fully cooperated with the authorities and will continue to do so. I accept full responsibility for my actions. Although I did not take any of the profits for myself, I am committed to repaying all of the funds gained illegally and accept the consequences of my actions.

I sincerely apologize to my coaches, the owners, and my teammates on the Eagles and the Browns, the NFL, and the magnificent fans to whom I owe my career. I also apologize to my family, who I have failed in this. You all deserve better, and I will work my hardest to re-earn your trust and respect, serve as an advocate to educate others, and show you that I will never be involved in anything like this again. Thank you.”

The Browns announced that Kendricks will not make the trip to Detroit for the team’s final preseason game. NFL spokesperson Brian McCarthy says the league is aware of today’s developments [with Kendricks] and will review the matter.

Pro Football Talk wonders if Kendricks’ NFL career could be over.

There are conflicting reports on whether the Browns knew about Kendricks’ issues upon signing him this offseason. Mike Garafolo of the NFL Network has a source that says the Browns had no idea about it. However, Jordan Schultz of Yahoo Sports is saying the complete opposite with his source:

If there is one person who can advise Kendricks on federal investigations, though...

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