Cleveland Browns linebacker Mychal Kendricks could find himself in jail for 8-12 months if convicted of insider trading. This is according to a legal analyst who spoke with Cody Benjamin of CBS Sports. They shared some additional details about the possible sentence.
Spoke with attorney/legal analyst David Weinstein. He estimates Browns LB Mychal Kendricks is likely to serve 8-12 months in prison for insider trading. Advisory sentence would likely be higher but reduced by split sentence, house arrest, community service, etc.
Kendricks was indicted of the aforementioned federal charge on Wednesday. Kendricks allegedly used non-public information about a business merger in 2014 from television writer Damilare Sonoiki, who was still with Goldman Sachs at the time. With that information, Kendricks decided to put money as an investment on entrepreneurial entities that were going to be bought during the merger, allowing the linebacker to reap $1.2 million in profit.
As for the Browns, Mike Garafolo of the NFL Network reported that the team is still making initial steps in knowing more about the matter.
Team is gathering info on Kendricks because this is news to them. They weren’t aware when they signed Kendricks, source says. https://t.co/eBFuC2u8rc
— Mike Garafolo (@MikeGarafolo) August 29, 2018
In addition to that, the Browns also released a statement that Kendricks will not be with the team for the preseason finale against the Detroit Lions on the road this Thursday, according to Scott Petrak of The Chronicle-Telegram.
Browns spokesman statement regarding Mychal Kendricks' insider trading charge:
We are aware of the situation and in communication with the league office as we gather more information. Mychal will not make the trip to Detroit. We will comment further at the appropriate time.
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