Mychal Kendricks apologized on Wednesday for several investments tied to insider trading.
The NFL linebacker with the Cleveland Browns allegedly made nearly $1.2 million in profits from the investments four years ago. On Wednesday he was charged with insider trading and could face “substantial prison time” if convicted, according to ESPN.
Kendricks is well-known in the Fresno area. The 27 -year old graduated from Hoover High School before breaking into the NFL and eventually winning a Super Bowl ring in February with the Philadelphia Eagles. His brother Eric, is a starting middle linebacker for the Minnesota Vikings.
Both were in town for a youth football camp last month.
In a statement released shortly after the charges were filed, Kendricks admitted to the insider trading and said he accepts “full responsibility for my actions” and that he “knew it was wrong.” He said he has cooperated with authorities and will be repaying the money.
The investments were made with a former friend who had worked at Goldman Sachs, he said. Television writer Damilare Sonoiki has also been charged. Sonoiki , who is listed on IMBD as a writer on the popular TV series “Black-ish” and other series, allegedly received kickbacks from Kendricks, including cash and tickets to NFL games, according to USA Today.
Prior to becoming a writer, Sonoiki was a trader at a banking firm.
“I was drawn in by the allure of being more than just a football player,” Kendricks said in the release.
Both the team and the NFL are aware of the charges, which were filed in U.S. District Court in Pennsylvania. Kendricks will not travel with the Browns to play against the Detroit Lions on Thursday.
The Associated Press contributed to this story.